The first paragraph of the article says it best:
“Home prices are back to near-record highs across the U.S. amid rising demand and supply constraints, a sign that the lopsided housing-market recovery of the past five years is gaining some strength.” (emphasis added).
What about the struggles in the economy?
Some openly question how the real estate market can be gaining ground if the overall economy is still struggling. According to the WSJ, it is:
“Despite the unbalanced recovery, Federal Reserve officials have seen housing as a bright spot for the U.S. economy in recent years. Residential construction has contributed to overall economic output for eight straight quarters, expanding at a 17% annual rate in a first quarter marked by slow growth in other sectors.”
The housing market is gaining strength and all indicators point to an even stronger real estate market moving forward.
Interested in talking more about buying or selling a home? Contact me, Troy Stavros with Gables & Gates, REALTORS today and let’s set up a time to sit down and talk!