â€œAfter half a decade of withering sales and slumping prices, there are strong and diverse signs that the single-family housing market is poised for a rebound. In some metropolitan areas, the market has bottomed, with both sales and prices on the rise and foreclosures on the decline.
This contrarian â€” and largely overlooked â€” thesis flies in the face of the persistent gloom that has nagged the industry since 2007, when the subprime crisis flared.
Industry analysts and players cite a number of reasons â€” some traditional (employment), others unique to the post-credit bubble era (foreclosures) â€” for the long-awaited sea change. An analysis of industry and government data also support the forecast.
â€œIt has become increasingly apparent to us that the pieces for a housing rebound next year are beginning to fall into place,â€ declared Barclays Capital analyst Stephen Kim in a recent note to investors.â€
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