Tuesday 8 May 2012

Positive Signs For The Housing Market

Posted by at 2:16 PM

The good news is that in the spring of 2012, the housing industry appears to be healing. The patient is sitting up and taking nourishment. One sign of firmer footing can be found in the increasing number of improving metro areas as judged by the NAHB's Improving Markets Index, which stands at more than 100 up from a couple dozen eight months ago.

Another sign can be found in the billions of fines paid by banks to clear up irregularities that for a time inhibited foreclosures. And better conditions in the economy are apparent as forecasters continue to predict slow steady growth in GDP which at some point leads to reduced unemployment. Finally, there is increasing evidence that more banks are getting back into the business of lending to builders because the builders who have survived the downturn have learned to become more efficient. They have embraced technology to boost productivity and used it to enhance the customer buying experience. This suggests the time is now to reflect less on the past and to strike out in new directions.