Destin, FL – May 23, 2011 – (RealEstateRama) — Home sales are forecast to have a positive move upward the rest of the year, aided by lower home prices and pent up buyer demand on behalf of real estate investors, according to a new forecast by Housing Predictor. The promising outlook shows a better climate developing in the housing market.
Despite high unemployment and slower home sales in April, the spring and summer home buying seasons are projected to see an increase in buyer activity as investors turn out to pick up more discounted homes priced to sell quickly by banks, which are facing a surplus of foreclosed homes on the market. Almost 1 in 3 transactions are now investor purchases. Get the full details on the new forecast at Housing Predictor dot com.
Opinion polls show that U.S. consumers feel that housing markets are promising a better future and will appreciate over time as the economy recovers from the worst downturn since at least the Great Depression.
Foreclosures have resulted in 7-million homeowners losing homes since the housing mess started with momentum growing for the crisis to reach 15 million forecast foreclosures.
Historically housing leads the U.S. economy out of economic recessions, but this time it just may be different. Housing Predictor tracks more than 230 local housing markets in all 50 U.S. states, forecasts markets across the country and keeps visitors up to date on real estate news and mortgage rates.