U.S Residential Real Estate Market Forecast for 2013
The residential real estate market has been recovering well from the crisis that engulfed us these past few years. A number of investors are still skeptical about entering the market again, but many real estate analysts believe that there are good reasons to reconsider purchasing properties in the U.S.
Stewart Holley with Forseti Real Estate Services recently stated that “For the past three months in succession, home sales in the country have consistently risen, showing signs that the market is attracting plenty of interest.” The Wells Fargo Index/National Realtors Association Index signaling builder confidence has also increased in the past five months. At the end of March 2012, it was at its peak in comparison to the levels in the past five years.
One of the latest earnings reports suggests that Lennar Corp – the United States’ second-largest homebuilder earned over 100 per cent more than forecast by analysts. New orders rose by 33% while backlog increased by 39%. Total sales made by Lennar increased by 30% in comparison to 2011. Meanwhile, D.R Horton – the Unites States’ largest homebuilder also surpassed analyst expectations with some style as it recorded an increase of 225% in terms of annual earnings. New orders for the firm increased by 19%, backlog rose by 17% and total sales increased by 28% during the same period.
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