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National housing conditions ready to improve

January 19, 2011 - Experts at the International Builders Show in Orlando said the real estate market is ready for a recovery, arguing that consumers are ready to begin consulting moving companies and purchasing homes again.

David Crowe, chief economist with the National Association of Home Builders, said he predicts strong job growth during the early part of this year will provide a more stable and sustainable boost to the housing market compared to last year's federal homebuyer tax credit, which only brought temporary relief. That will result in a strong spring moving season this year compared to last - a bold prediction given the sharp rise in home sales around March and April of last year.

Frank Nothaft, chief economist and vice president of Freddie Mac, said that housing affordability and demographic trends favor buyers, meaning more should be packing their moving boxes this spring.

"Potential buyers who have resources to buy but want to buy at the bottom are likely to start coming into the market in the springtime," he said.

When they do begin to buy homes, consumers will likely put an emphasis on energy-efficient homes, said experts. Green building experts at the show said buyers will likely be willing to pay more upfront for a home if it means moving into one that's more environmentally-friendly and saves them money in the long run.
 

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