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 t
he 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.”
Bottom Line
The housing market is gaining strength and all indicators point to an even stronger
real estate market moving forward.
The Cincinnati real estate market
The local greater Cincinnati housing market remains busy -but with too few new listings to meet the demand. 596 properties pended (sold but not closed) since the 26th of May. Many potential sellers are hesitant to list because they haven’t found their next property and often find themselves in a loop. If they find something they love- they can’t purchase because they need the funds form current property. Agents, buyers and sellers are figuring out ways around the fear of living in a tent for a month-so if you’re considering putting your condo or house on the market -talk to your Realtor® about options.
