Tara O'Brien's Minneapolis Real Estate Update: Housing May Turn the Corner in 2012: CoreLogic

Tara O'Brien's Minneapolis Real Estate Update: Housing May Turn the Corner in 2012: CoreLogic

Minneapolis Condos and Minneapolis Real Estate | Tara O'Brien
Tara O'Brien's Minneapolis Real Estate Update


Featured Homes
Bookmark and Share

Quick Search

Advanced Search

Click Here

Search by Listing #




Search by Street Address
Free Email Updates


Visit Tara O'Brien's Facebook profile
Visit Tara O'Brien's Twitter account
Visit Tara O'Brien's Active Rain profile
Visit Tara O'Brien's LinkedIn profile
Visit Tara O'Brien's Merchant Circle profile


Search for Condos and Condominiums Throughout the Minneapolis Metro Area




Tara O'Brien's Minneapolis Real Estate Update
Subscribe to Tara O'Brien's Minneapolis Real Estate Update by Email

Tuesday, January 24, 2012

Housing May Turn the Corner in 2012: CoreLogic

CoreLogic’s chief economist Mark Fleming says housing statistics and the duration of the downturn to date indicate 2012 may be the year the housing market begins to turn the corner.

In the first release of CoreLogic’s new MarketPulse newsletter Wednesday, Fleming explained his rationale for such an assessment.

He notes that housing is an industry with long business cycles. Regional housing recessions have typically taken anywhere from three to five years to find their bottom, and Fleming says the national housing recession has behaved similarly in that it has bounced along a bottom for the past two years.

Fleming points out that housing affordability is rising dramatically due to a combination of home price deflation and rock-bottom mortgage rates. In fact, he says, after adjusting for inflation, this has been a “lost decade” for housing as prices are the same as at the beginning of the millennium.

“The time is right in 2012 for prices to begin growing again,” Fleming said, “and housing affordability will put a floor under any further significant declines.”

Fleming says he will be watching the spring and summer buying season closely for positive signs of demand.

He points out that households are paying off their debts and at the same time accessing credit more easily, with some even adding Home Equity Lines of Credit in the third quarter of last year – the first such movement for these second-lien mortgage products since the financial crisis began.

Fleming cites a quarterly survey by the New York Federal Reserve Bank, which shows total household debt continues to decline. At the same time, consumer sentiment rebounded strongly in the latter part of 2011, posting a six-month high in December – an indication that consumers’ confidence in the strength of the economy is growing, according to Fleming.

Most housing statistics basically moved sideways in the latter part of 2011, but Fleming finds several positives in the numbers. Although market indicators are coming off of very low levels, he notes that both existing-home sales and single-family housing starts have begun to increase, homebuilder confidence is improving, and affordability is at an all-time high.

Putting all of these statistics together suggests that while there is a very long way to go, the housing market is likely to sustain these upward movements in 2012, according to Fleming.

“While we cannot say with a high degree of certainty what 2012 has in store for us, indications based on the latter part of 2011 are that both the broad economy and the housing market are moving toward positive growth in 2012,” Fleming said.

He concedes that some impediments do exist, including slower global economic growth, a recession in Europe, and fiscal and political uncertainty in the United States.

But Fleming says when you look at the big picture, “we are bullish on the prospect of improving economic performance in 2012 from 2011.”
-Carrie Bay

MinneapolisCondosTaraOBrien

# posted by Tara O'Brien @ 10:07 AM


This page is powered by Blogger. Isn't yours?



Tara O'Brien At The Heart of Minneapolis.
Edina Realty Downtown Office: .. (612) 347-8028
226 Washington Avenue North Cell: (612) 810-7728
Minneapolis, MN 55401 Fax: (612) 347-8001
Send Email to Tara
Edina Realty Downtown, 226 Washington Avenue North, Minneapolis, MN 55401



Minneapolis Condos and Minneapolis Real Estate | Tara O'Brien
About Tara O'Brien's Minneapolis Condos, MN Real Estate Website: The www.taraobrien.com web site provides Greater Minneapolis communities of Downtown Central, Calhoun-Isles, Camden Community, Longfellow, Near North, Nokomis, Northeast, Phillips, Powderhorn, Southwest and University Community, Minnesota real estate information and resources to guide homeowners, homebuyers and real estate investors through the process of selling and buying a house, condo or other realty property in the Minneapolis Condos area. Tara O'Brien (Sometimes spelled as Tara, Tera, OBrien, O'Brian, or Obrian) has services to help you get the best value for your Minneapolis Condos home and this website offers home buyers and home sellers a superior comparative market analysis (CMA), a way to view real estate and MLS IDX listings including virtual tours, prepare your home for sale, and more. Investors looking for real estate investment properties to invest in need look no farther. Anyone selling a home, buying a home or seeking housing can learn more about our realty services, and will appreciate working with a  Minneapolis Condos REALTOR who knows  the area so well. Through trusted partners, we also provide real estate and financial services to consumers looking for houses for sale or selling their home in Minneapolis Condos, MN, such as mortgages, credit history, new homes, foreclosures and other services. If you've already tried to go the for sale by owner (FSBO) route and find you are needing a partner who you can trust in the sale of your most precious asset, Tara O'Brien can take care of your special needs. It really doesn't matter if you spell it REALTOR, Realator or Realter, realty, realety or reality, real estate or realestate, Tara speaks  your language.
Great Real Estate Agent Websites for Realtors - Best Real Estate Web Site Design for Realtors (c)2009 HoopJumper WebSystems, All Rights Reserved (949) 309-2299 - Espanol -
Bookmark and Share