2012 Housing Market Still in a Slow Recovery Mode

The general housing market continued to inch along in its recovery according to 2012 first quarter results. Some of the information that backs this statement up is the following;

Housing Starts;

The 3 month moving average for new housing starts is just under 700,000, for the first time since October of 2008. We are still a long way from a strong and healthy homebuilding market. Tight credit, difficult appraisals, and the continued flow of foreclosed properties are three of the major conditions that need to correct  themselvesbefore the market moves ahead significantly.

Existing Home Sales;

Strong existing home sales in recent months demonstrate that home buyers are responding favorably to the current market conditions. Low home prices, job creation, and rising rents are among the stimulants to home sales.

Appliance Shipments;

Overall appliance shipment was up 4.0% year over year, although all sub categories were not as healthy.

Cabinet Sales;

Cabinet sales were up 1.6% January 2012 over January of 2011. Sales of stock and semi custom rose 2.7% and 3.4% respectively, while custom cabinet sales were down 12.2%.

You can leave a response, or trackback from your own site.

One Response to “2012 Housing Market Still in a Slow Recovery Mode”

  1. A lot of very valid details! I appreciate you creating this post plus the rest of the website is extremely good as well.

Leave a Reply

%d bloggers like this: