Archive for June, 2011

State of the Real Estate Market

Tuesday, June 7th, 2011

On the blog of the Pennsylvania Association of Realtors, Smeal’s Austin Jaffe highlights a report from the Lincoln Institute of Land Policy that summarizes recent trends in the housing market. Jaffe pulls out five lessons from the report on the state of the housing market:

1. We are unlikely to see a repeat of the housing price boom and bust again anytime soon.

2. Changes in the mortgage finance industry helped brew the unanticipated collapse.

3. Housing starts, building permits, and the home building industry will take years to recover to reach their pre-bust levels.

4. Mortgage foreclosures may be slowing but there will be a surplus of foreclosed properties in many markets for some time to come.

5. Regulatory reform may help future housing markets (or it might not!) but the forces in the economy and demographics will provide important signals for future trends.

View Jaffe’s complete blog entry on PAR’s Just Listed blog for his complete analysis.

Tags: Economic Crisis, Economy, Jaffe, Real Estate
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