A new year brings new hope, and there are plenty of reasons to have a positive outlook for 2012. Along with the good news that the stock market is regaining points and and job losses have stemmed off, the economy seems to finally making its long overdue return for a rebound.
Last year saw the the steady increases in home purchases and an increase in property value. What will 2012 bring? In addition to a surge in the rental market, industry insiders are pointing towards personal financial trends, like adding a line of credit to the home, as a positive sign that homeowners have learned their lesson from the financial crisis and are taking steps in defending their home from foreclosure and their finances from bankruptcy. This could also mean that homeowners are taking care in budgeting much more carefully in order to keep debt in check.
While consumer confidence and job growth is still slowly increasing, experts say that these percentages may take some time before these percentages increase significantly enough. Spring and summer real estate activity will look like a promising indication of how the economy is doing at this moment. It is suggested we keep a careful eye on the activities in Europe, seeing as how some of the markets over there are re-structuring themselves.