Signs of Life For Housing RecoveryBy
Experts believe that the worst housing market since the great depression is finally coming to an end, but its definitely not the results that many unfortunate under-water homeowners need to save them. The Urban Land Institute, a nonprofit land-use think tank, released on Wednesday its real-estate forecast for the next three years, which shows some encouraging trends in both the residential and commercial sectors through 2014. The news comes as a breath of fresh air to dis-heartened builders and contractors who have been hit hard during this recent market, good news is there are predictions that single-family housing construction will jump by 2014, from 428,600 in 2011 to a projected 800,000 in 2014. As demand improves, home prices may rise as soon as 2013 and prices could tick up by 3.5% after the third year!