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While short sale, foreclosure, and bank-owned property are hot topics for the housing market, the market may be on the upswing for 2013. Joseph LaVorgna, chief US economist at Deutsche Bank, recently tweeted #Housing sector poised to add a full percentage point to #growth. The tweet included a link to the full report published by Deutsche Bank Markets Research, titled Housing: The Best is Yet to Come.

Here are a few highlights of the housing economic review published in May 2013:

  • Total housing-related spending is a larger share of the economy than realized.
  • Since the end of the recession in mid-2009, the GDP has increased 2.1% annually. This productivity growth has significant effects for hiring. The analysts project productivity and employment will increase for the remainder of 2013.
  • While the housing share is rising, it’s still well below previous long-term averages.
  • The report suggests a modest housing recovery this year, along with large indirect, positive effects.
  • Rising home prices are likely to coincide with an expansion on the housing market.
  • As home values increase, bottlenecking of mortgage credit should be alleviated.
  • The analysts report, “Historically, housing output does not peak until interest rates have meaningfully risen.”

The report ended by stating it may be too early to predict an increase in hiring for the immediate term, but predicts an up-shift is over the horizon.

With as many uncertainties that exist in the housing market today, make sure one thing doesn’t waiver - trust in your vendors. Blue Streak Docs is a document retrieval company dedicated to thorough and accurate reporting. Our staff specializes in document recording and retrieval for mortgage professionals and real estate attorneys. We focus on the details, so our clients can see the bigger picture. For more information on our services, contact us today at 727-479-0007.


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