Real Estate Update

Weekly Real Estate Update
January 9, 2012

For week ending December 31, 2011

Most observers would agree that this year’s housing recovery was not as robust as many had hoped. That said, a handful of things went right. Inventory declines and a pullback in listing activity meant sellers generally faced fewer challenges than in the past. Driven by improvements in the economy and record-low mortgage rates, purchase demand strengthened organically, independent of government incentives. Those sales gains dovetailed with falling inventories to move the market back toward balance. Nobody knows what 2012 will bring, but it’s a safe bet that these positive developments will continue to evolve.

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