Data released by CoreLogic, a corporation providing financial and property data analysis, indicated that housing proves to be a weak link in the country’s economy.
Despite the fact that home prices rose 10.5 % in April and were higher than the year before, still this is the slowest rate in 14 months. CoreLogic predicts even further slowing down of the sector’s growth.
At the same time, industry experts say that even though the housing recovery seems to be lagging behind, the market can be viewed as a “glass half full” or “glass half empty.”
Economists say that such a slow pace is somewhat а natural trend leading the sector toward normalcy. Normalcy in the meaning of no large amplitudes in price gains vs. huge drops, and then followed by a slight increase due to foreclosures.
A researcher from Yale University who analyzed recent housing market data says that home prices now are higher than historic averages, but nowhere near the housing bubble of the early 2000s.
Others predict that prices will rise by a 4% average in the upcoming few years.
Read the full story at The Christian Science Monitor