Will Housing Recovery End Up a 'Failed Sale'?
NEW YORK (
BankingMyWay) -- One more data point showing that the housing recovery is gaining steam:
"It's reassuring that both sales and prices continue to rise higher on a yearly basis, indicating that this housing recovery is real," notes Margaret Kelly, CEO of Re/Max. "Overall, the picture is getting brighter each month, but what we need for a sustainable recovery is a turnaround in unemployment and better availability of mortgages, especially for higher-priced homes."
So far, so good in 2012. It's not just the unemployment rate or luxury home mortgages, as the Re/Max CEO says, that could help the housing rebound continue its momentum. One under-reported fly in the ointment is the fact that the housing recovery would be greater but for one downbeat issue: Too many home sales fall through at the last minute.
The analytical firm Capital Economics placed a
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