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Some economists are insisting that 2012 will finally be the year for a noticeable recovery in the U.S. residential real estate market. Experts at CoreLogic argue U.S. housing is on the brink of finding a bottom as affordability meets historically low interest rates during a time when the economy experiences slow but steady growth. Reports indicate that more households are paying off more debt while also having more access to credit, which is expected to improve the buying climate in 2012. Consumer confidence was also up through the transition into the new year, and the spring and summer buying season will be the first sign of whether a true recovery is in the offing.  For more on this continue reading the following article from Property Wire. While 2011 was clearly a challenging year for the residential property market in the United States, there is a lot to be positive about looking ahead to 2012. Read more…

A leading real estate analysis firm has scaled back its forecast for a recovery in the market for new homes, pushing back projected recovery dates in most of the markets it surveys.

In its January 2011 outlook for the U.S. housing market, the Concord Group pushed back its predicted date of recovery in new home sales by at least one quarter in 10 of the 16 metropolitan markets it analyzed, compared to its previous study two quarters ago.   None of the markets were given improved forecasts, while the predicted recovery in one market, Santa Clara, Calif., was pushed back two quarters, to the fourth quarter of 2012.   Overall, a recovery in the national market in new home sales is predicted by the end of 2012, with sales growth in the single digits. Areas with low inventories of new homes and rising employment could see a recovery by the end of this year, while metropolitan areas with high levels of foreclosures and lagging employment may not begin to recover until as late as 2015, according to the forecast.   Read more…