Economists:  Housing Recovery is Finally Here

It’s been a long time coming, but economists now believe the nation’s housing market has finally turned the corner. 

Clovis Real Estate

According to CNN, economists now predict home prices will continue to increase in 2012. Only three months ago, economists indicated home prices would not increase until 2013 or later.  What happened?

Economists have been encouraged by a variety of readings, including three straight months of increases in the S&P/Case-Shiller home price index, a pick-up in sales of existing homes and home construction and a big jump in the price of new home sales.  Mortgage rates are also likely to remain near record lows thanks to the Federal Reserve’s purchase of $40 billion in mortgages a month for the foreseeable future.

“We’re seeing the signs of a pulse in a sector that has been flat-lined for a number of years,” said Sean Snaith, economics professor at the University of Central Florida.  It’s finally adding to economic growth, said Lynn Reaser, chief economist for Point Loma Nazarene University.

Is it a Good Time to Buy a Clovis Home?

Clovis buyers who had once postponed housing purchases are finally more comfortable making the plunge. “You had a lot of people who needed or wanted to buy homes — but were on the sidelines,” said David Crowe, chief economist for the National Association of Home Builders. “Now you’ve got buyers not wanting to miss the bottom of home prices and mortgage rates.”

If you’ve been waiting for Clovis home prices to hit rock bottom, you’ve already missed it.  Clovis home prices have been on the rise for several months now.  However, it’s not too late to get in on a great deal on a Clovis home while it’s still near the bottom and before they increase more.  If you’re ready to buy a Clovis home, we’ll send you a list of bargain-priced Clovis foreclosures.  Sign up below for a FREE list of Clovis foreclosures sent right to your email inbox.

Happy housing-hunting!

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This entry was posted on Wednesday, October 3rd, 2012 at 7:30 AM and is filed under Clovis Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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