Wells Fargo: Caution; B of A: Full Steam Ahead

According to originationnews, economists at Wells Fargo Securities have suggested that institutional investors account for 20 percent of existing home sales, but as the inventory of preferable distressed properties declines, investors may pull back from the market. Traditional homebuyers who need mortgages are not returning to the market in numbers as the housing rebound might suggest. If the investors do pullback, then median prices will not rise as fast. The median home price rose 6.4 percent in 2012 over 2011. Meanwhile, MHProNews has learned, analysts at Bank of America Merrill Lynch see clear sailing, predicting house prices will rise eight percent this year. “We believe a positive feedback loop has begun, where the rise in prices fuels expectations of further appreciation and easing credit conditions, which in turn stimulates home buying,” says their report.

(Image credit: Fotosearch)

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