Housing Recovery is Real Despite a Few Bumps in the Road

While 75 of the largest metropolitan housing markets across the country are posting a recovery index of over 100, which according to RealtyTrac means those markets are recovering faster than the national average, 63 markets continue to have at least 20 percent of homes underwater. Foreclosure is beyond its highest point in all of the 100 markets, but distressed sales continue to comprise nearly one in every five sales in almost 75 percent of the metro markets. As HousingWire tells MHProNews, the recovery varies from market to market because of supply and demand, but market experts do not envision any major setbacks. Monty Smith of Realogy NRT says, “Other than macroeconomic forces that (are) out of our control such as unemployment and interest rates, we don’t see anything that would change the current positive trend lines we are seeing.”

(Image credit: globest.com)

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