The real estate industry anticipates improvement in the housing market in 2012. The year 2013 is touted as the year in which it will fully recover. One of the chief economists who has membership in one of the major builder’s associations stated that the full recovery may require more than two years.
The forecast, although brighter, leaves the industry with years of repression to overcome. Another expert in the field sees 2012 as being on the road to a solid recovery. New home construction starts are on the increase. However, they are well below levels considered healthy. It may take years to restore the market after the severity of the recession’s effect.
The fact is, single family homes are 70 percent of the market. Another recognized expert remarked that 449,000 construction starts of single family dwellings will take place this year. It may be only 16 percent higher than 2011, however, the fact is – it is higher rather than lower. Just as lower indicated recession in 2007, higher indicates recovery in 2012.