Housing Market Expected To Rebound This Year

A study that involved thousands of ReMax real estate agents revealed that the housing market will start to recover in 2012, with an increase in sales and stabilizing home prices. The majority of Realtors surveyed believe that home prices will stay the same, or increase during 2012. However, the number of foreclosure (distressed) sales are expected to rise.

The  obstacles agents are currently seeing in the market include sagging customer confidence, low economic growth, unemployment, and buyer concerns of prices continuing to decline and tight mortgage procedures.

The survey also revealed that distressed sales (short sales and foreclosures,) will count for 20.3 percent of home sales during 2012, according to ReMax. In 2011 the company had predicted a figure of 17.1 percent for distressed home sales and 15 percent in 2010.

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