- Posted July 15, 2014 by
Real estate recovery questions and predictions
As I watch the for sale signs change in neighborhoods, it is easy to question the real estate recovery. Although it is clear that some areas have seen progress, there are still struggling homeowners and neighborhoods. Will this recovery continue to improve and will more areas start to see changes?
Janet Yellen has recently stated that the recovery of the economy in the United States is not finished, and the real estate market reflects this. After years of foreclosures and lower sales, it is not surprising that it will take time for things to change significantly. However, there are signs of hope in some places that should give people confidence.
Although it may not seem positive, one of the signs of the recovery is the reduction in the number of available homes. Inventory is falling while more people are out shopping. This means that optimism has returned to some real estate markets in the United States, and more people are buying or building houses. Prices have increased because increasing demand is making the supply numbers fall, but they are still much lower than the numbers people saw before the crash.
The market can be fickle, so it is not easy for sellers or buyers to find the perfect home. However, staying determined seems to help, and having the right people around you also matters. A good real estate agent, builder, inspector and others can make a large difference in the home buying process. They can provide advice, help, suggestions and warnings that could prevent misery down the line.
As the recovery continues, the real estate industry has figured out how to use the Internet to its advantage. People are posting information that goes beyond the typical home photos or renovation details. They are making videos of the interiors and exteriors, they are using social media, and they are leveraging their online friends to spread the information.
The recovery is real, but it is spread out differently among neighborhoods in the U.S., so some people believe it is moving too slowly. Nevertheless, the real estate market is moving in the right direction, and more people are taking advantage of current deals. If you drive through some areas, you can see new homes are being built while more are being sold. Complete recovery will need more time, but these developments should already give people hope.