According to Clear Capital's Home Data Index Market Report from September 2012, the uncertainty of the fiscal cliff is threatening to slow the rate at which the housing market has been recovering. (The fiscal cliff is a term describing the issues the U.S. Government will face at the end of 2012 when the Budget Control Act of 2011 takes effect.)
The report also states that the national yearly price of homes has increased by 3.6% and it is predicted that it will increase another 2.2% over the next six months. If we can avoid the fiscal cliff, there is still a risk that confidences will be damaged which is essential for the recovery. Overall, though, most markets are improving rather than declining and it looks good that recovery will survive the winter. It is possible that the fear of a potential fiscal cliff could sway consumer confidence and discourage home buyers, but we are optimistic that everything will be fine.
Friday, October 12, 2012
Home Data Index Market Report Summary
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