The Real Estate industry for 2012 has been immensely successful thus far and the numbers will be very uplifting once the final numbers have come to fruition as the year comes to a close. It has often been reported about just how strong the climb have been across the Nation with Boston in particular arguably leading the way as the city that has improved to the highest degree. This great notoriety has been derived when we are looking at year-over-year statistics and the overall recovery in the industry since the economic recession and housing crash only mere years ago.
Lender Processing Service recently came out with what they believe are the Top 5 biggest contributors for such a turnaround in the Real Estate industry leading to this general rising in prices. Please have a look below to these factors and feel free to click the link at the base of this blog post for a more detailed description on why these issues have been so influential of late.
- Housing affordability is attractive based on traditional metrics such as price-to-rent and price-to-income measures, largely because prices have fallen so far
- Household formation is revving up
- Rents are rising
- The share of distressed sales, such as foreclosures, are down
- Inventories of homes for sale have plunged
More Information: Wall Street Journal