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Latest from Clearwater Real Estate Tampa Homes

Latest from Clearwater Real Estate Tampa Homes

Clearwater FL Homes For Sale – Forecast Sees Job Growth Lifting Housing in 2011

Posted: 17 Jan 2011 01:46 PM PST

Clearwater FL – I get about 15-calls / day asking me to predict the bottom of the current real estate market. I usually tell the caller the real estate market is like the stock market; it ebbs and flows and it is difficult to pick the top or bottom of the Clearwater FL Homes For Sale market. I go on to say that I see pricing, which is driven by buyers, that indicates the market has bottomed and is now flattening out for an upturn in 2012. Today, I just read the following article that supports this position based upon the employment rate.
David Crowe, chief economist for the National Association of Home Builders, forecasts housing growth over the next two years due to gains in employment. Crowe's forecast calls for the unemployment rate this year to go no higher than 9.4 percent, where it stood last month. He said he also expects the economy to add jobs at an increasing clip, eventually hitting 200,000 a month by the end of next year – about double the number of jobs added by the economy last month. More jobs should help release some of the pent-up demand for homes squelched in recent years as would-be homebuyers and renters held off buying a home. And it should stoke demand and prompt builders to step up construction to keep up, Crowe said.
So, in my opinion, be a wise investor and get in the marketplace while prices are sitting at 2003 levels and don't try to time the bottom of the market, or you will wind up chasing a rising market.
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