Destin, FL – January 24, 2012 – (RealEstateRama) — Despite the troubled U.S. economy, pent up buyer demand in the real estate market promises that 2012 will provide a major rebound in home sales, according to a new Housing Predictor poll.
The survey, conducted online over the past three weeks, asked respondents whether they plan to buy or sell real estate in the coming year. Nearly two out of three or 64% said they planned on either buying or selling. Only 36% said they did not.
After five years of slow home sales across the nation and the weakest housing market since at least the Great Depression, buyer demand has reached new levels. Record low all-time mortgage rates coupled with lower home prices and more foreclosures in many areas of the country than have existed in a generation are staging a comeback for the housing market.
However, weakness in other sectors of the economy are likely to drag on the market making it difficult for many consumers to purchase a home.
High unemployment and tougher mortgage lending criteria make it impossible for many potential home buyers to make purchases.
Housing Predictor provides more than 230 housing market forecasts in cities throughout the nation, and the latest mortgage rates and real estate news.