Thursday, June 12, 2014
The Wells Fargo Economics Group
released its Housing Chartbook for May 2014. The group found that most
markets are finding themselves "wildly out of balance" from inflated
home prices driven by investor purchases, as well as exceptionally tight
inventories that are well ahead of any improvement in demand.
group said that the "lack of a rebound in home sales this spring has
reinforced our view that there was more than harsh winter weather behind
the recent slide in home sales and mortgage applications." The group
notes that the road to housing recovery will be longer—and much
bumpier—than expected....Read More At.
Study: Road to Housing Recovery will be ‘Longer and Bumpier’