Starting in 2013, the housing market may have a direct and positive impact on our country’s economic growth. Experts are projecting a boost in new home sales, existing home sales, and permits for this year.

In recent years, the U.S. economy has been recovering from the recession with increased consumer and government spending. Another factor has been export-driven manufacturing. Now, stabilization of the housing industry is joining the game.

Potentially, the housing market can positively impact U.S. economy due to the following factors:

  • Stabilization of home prices
  • Increased mean growth of home prices
  • Slowing REO sales
  • Increased amount of private equity capital

As housing construction has fallen to historical lows in recent years, we are starting to see an upswing occur. Home building, government spending, and consumer spending have added to the home price stabilization and, ultimately, a positive impact on the U.S. economy. Research is showing an increase in mean home price growth, from 3% to 5%.

Improvements in the housing market will begin to affect many areas of the U.S. economy, including:

  • Construction companies
  • General contractors
  • Homebuilders
  • Mortgage financers
  • Construction suppliers
  • Home furnishing suppliers
  • Home retail and appliance companies

As the housing market picks up speed, it is vital for real estate and mortgage professionals to cover all the details of a closing correctly. With changing compliance rules and newly passed regulations, navigating the housing market can be overwhelming. Blue Streak Docs is a document retrieval company equipped to research and find what you need. Specializing in property reports, title searches, and document recording, Blue Streak Docs can deal with the details, so you can keep your eye on the big picture. For more information about our services, feel free to give us a call today at 727-479-0007.

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