Impact Article

When Will Housing Market Finally Recover?

04.03.2012
Posted by Leon Fooksman of yourPBC.org

Will it really take three more years for our housing market to recover?

Yes, according to the latest prediction from the real estate website Trulia.com.

The analysis determined that the slowly improving market still isn't on pace to return to normal before late 2015.

The report was based on three key indicators: construction starts, existing home sales, and delinquency/foreclosure rates. The website used February's housing data to predict what the future holds for the housing market.

"Kids, sit tight...it's going to be awhile," wrote Jed Kolko, Trulia's chief economist.

Nearly five years since the housing bubble burst, housing remains an important industry in Palm Beach County, responsible for jobs and prosperity for thousands of residents.

So, if we're still so far off from a normal housing market, what will this mean for our community?

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