September 26, 2018, WALTHAM, Mass. — This month, Home Value Forecast explores recently published negative forecasts for the national housing market, and why we think those projections are a bit off the mark.
A recent CBS News MoneyWatch article, 3 Reasons to Worry About the Housing Market, paints a dreary picture for the future of our industry. The article cites affordability, sales activity and demographics as reasons to worry – however, our data paints a different picture.
In this month’s report, we compare pre-crash and current housing market statistics, and look at the holistic data set including our findings on the Affordability Index, nationwide housing starts and millennial homebuying potential. As we re-examined the numbers, we found that not all is doom and gloom.
“We do not see ‘storm clouds gathering’ as many reports are indicating,” said Tom O’Grady, CEO of Pro Teck. “Real estate trends are returning to market fundamentals, where home prices are driven by traditional supply and demand dynamics rather than a wave of foreclosures and credit crisis.”
Click here to read the entire forecast, including data and graphs that further highlight market trends discussed in this release.
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