Market analysts and researchers believe 2012 will be a year of turn around for those on the business side of the housing market. Home builders, investors, and real estate agents are expected to see a rise in home and property purchases.
Moody's Analytics anticipates existing home sales to “rise 12% this year after a 2% increase last year, and new home sales, coming off a horrid year, will jump 74% this year” as reported by USA Today.
Home sales have risen as unemployment has fallen. In the month of December 200,000 jobs were created bringing the unemployment rate down to 8.5%, it’s lowest rate in three years.
Home values, however, are expected to continue to decline as foreclosures continue to come on the market. Stan Humphries, chief economist at Zillow, foresees home prices bottoming out the end of 2012 or into the start of 2013.