Let’s look at whether or not the real estate market is recovering…
70% of lenders believe housing recovery is real
A new survey of bank risk professionals shows the originations space warming to the idea of expanding home lending.
Approximately 70% of the professionals surveyed feel home prices are rising at a sustainable pace, reaffirming that the housing recovery is real.
FICO and the Professional Risk Managers International Association surveyed bank risk professionals regarding their predictions for the next six months.
The latest survey results, combined with data that indicates the real estate market is improving in many regions, paint a positive picture for a sector of the economy that has been slow to join the recovery,” said Andrew Jennings, chief analytics officer at FICO and head of FICO Labs.
Great news! Even if we have to take it with a grain of salt because of the source. Yeah it might be cheer leading but there is no doubt that the real estate market is getting stronger.
Whether you are buying or selling you really need to understand that the national trends do have an effect on our real estate market in Upstate South Carolina. It really boils down to the psychological effect that positive news will have on people.
But we cannot deny or ignore the local market conditions. Real estate always has been and will always be local. You can stay up to date with what is happening locally by reading the latest Weekly Market Reports.