High levels of investor activity and rising home prices put the housing market in recovery mode this year, but the real estate market for first time homebuyers is far from fully recovered, CoreLogic ($24.26 0%) said in its November MarketPulse report.
Mark Fleming, chief economist with CoreLogic and principal economist Sam Khater, put together a housing report that shows short-to medium-term factors driving the improvements in housing.
They find the factors lifting home prices and sales correlate directly to rental demand, since investors are keen to acquire properties for rental purposes. In turn, more demand is fueling prices, helping some negative equity borrowers pull themselves out of an upside-down situation.
Read more...CoreLogic: Rising house prices linked to rental demand | HousingWire
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