Monday, January 14, 2013
Housing Data December 2012
Given all of the immediate unknowns, the economic recovery will lean even more heavily on one area of the economy that looks certain to improve in 2013: residential construction. Unlike many other sectors, the bulk of reports dealing with home sales, housing prices and residential construction suggests that the housing recovery was largely unscathed by the fiscal drama. Housing starts turned in its best three-month performance since the recession ended. Mortgage applications for the purchase of a home have also risen for four consecutive months, suggesting that buyers are coming back into the market and lessening the dependence on investors.