Recovery for the St. Louis Housing Market in 2012?
New Years Day is a reflective time for many people. We spend time looking at the recent past and try to conjure up a vision for the year ahead. In real estate it’s been a year that many would like to forget. But what about 2012? Is there some evidence of hope? Should you buy a home?
Two Recent Positive Indicators for the Real Estate Market
1. The National Association of Realtors reported that November’s statistics showed a 7.4 percent increase in contracts to buy existing homes.
These numbers represent the total number of buyers who signed contracts to buy homes. This is the highest level in a year and a half.
2. The Wall Street Journal reported that some large hedge funds have been buying housing-related investments betting on a rebound.
The article stated that “Shares of home builders are up 30% since the end of the third quarter.” I’m not a hedge fund expert but they typically move their money out ahead of what they believe to be the upcoming curve.
Check out the video below:
Predictions for the St. Louis Housing Market in 2012
I decided not to make any predictions at this point. (Cowardice or wisdom?) However, we have seen enough charts to know that prices are almost always at their lowest point this time of the year … and begin to rise in the spring.
There will be a lot of statistics coming out in the next week or two which we will be reporting … so stay tuned. If you find yourself leaning towards buying a home we can predict you will not be the Lone Ranger. Give us a call at 636-532-4200 and learn how you can position yourself to win in the next couple of months.
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- Home Builders And Some Big Hedge Funds Are Winning After Today’s Positive Pending Home Sales Data (MAS, PHM, LEN, DHI, XHB) (businessinsider.com)
- Housing’s New Hope