Investment and Vacation Real Estate - Orlando, Florida

A study released today by the Joint Center for Housing Studies of Harvard University finds that the housing downturn -- the worst in generations -- continues to grind on.

The positive news is there has been some stabilization in home building and home sales in the spring. Also, long-term demographics for future demand are strong. But real home prices continued to fall, and foreclosures mount in most areas in the first quarter of 2009. With mortgage interest rates heading higher in June and the economy still contracting, a sustained recovery for housing still faces an uphill climb, according to the report.

“Although there are some signs of improvement or at least steadiness in new construction and sales,” said Nicolas Retsinas, director of the Joint Center, “housing starts stand near 60+ year lows, and any life in home sales is coming from distressed foreclosure sales, temporary first-time buyer tax credits, and low interest rates that moved higher in recent weeks.” complete story

Source: Home Channel News .com

Posted by Real Estate - Associates on June 22nd, 2009 10:20 PMPost a Comment (0)
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