WSJ – “Housing Recovery Picks Up Steam”
Yesterday, I ran a post quoting major housing experts on the increasing strength of the U.S. housing market. On the same day, the Wall Street Journal ran a front-page story called, “Housing Recovery Picks Up Steam” (article available to WSJ subscribers).
The opening paragraph says it all:
“Home prices are back to near-record highs across the U.S. amid rising demand and supply constraints, a sign that the lopsided housing-market recovery of the past five years is gaining some strength.” (bold type added).
What about the economic struggles?
Some question how the real estate market can be gaining ground if the overall economy is still struggling. According to the WSJ:
“Despite the unbalanced recovery, Federal Reserve officials have seen housing as a bright spot for the U.S. economy in recent years. Residential construction has contributed to overall economic output for eight straight quarters, expanding at a 17% annual rate in a first quarter marked by slow growth in other sectors.”
Real Estate Bottom Line
The housing market is gaining strength and indicators point to an even stronger real estate market ahead. Whether buying or selling your home, timing could be good!