The market giant Freddie Mac stated in a recent blog post that the “housing is stronger today than at any point since the Great Recession began and hit bottom in 2009.” Of course, what is a quote with out proven statistics to back it up?
- The Cliffs Home sales are up a whopping 13% since their 2009 low point
- New Home Construction is up 50% since they hit rock bottom
- Housing prices nation wide have risen a cumulative 16%
FreddieMac did then go on to state that they believe 2014 will improve, not as much as we saw in 2013, but it will improve dramatically.
- The Cliffs Home sales should improve by 3%
- 20% increase in new home construction, helping out tighter inventory
- The Cliffs Home values will improve as well
From the vice president and chief economist of FreddieMac, Frank Nothaft, went on to specify “Tight inventory may pose a significant challenge for home buyers in many markets across the country, which may result in higher home prices and sales being lower than expected. This is good news for those markets that have room to run on the house price appreciation front, but it’s also going to increase the affordability pinch in many markets, especially along the country’s east and west coasts. Two indicators that are supporting local housing activity are rising consumer confidence and declining unemployment rates.” When looking at all of the statistics and seeing what the chief economist are saying, this looks like the perfect storm for the housing market to continue on upward. The Cliffs Real Estate is getting hotter as the summer starts to heat up and now is the time to look to list or find that dream home you have had your eye on.