Inventory Drop will Add to Housing Values

Economist Joseph Brusuelas, writing in a Bloomberg Brief on the 2012 housing review and outlook for 2013, says, “Rising purchases of homes from cash buyers and investors reduced the monthly supply of existing homes on the market to 4.8 months in November from 6.4 months in January of 2012. Careful management of foreclosed properties by Fannie Mae and Freddie Mac and the large banks contributed to the improved supply picture in the housing market.” As MHProNews has learned, despite the continuing threat of underwater mortgages, Brusuelas points to turnarounds in the housing markets of metro areas and the strength of housing starts that will drive the appreciation of housing values.

(Image credit: HousingWire)

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