New home sales fell in May, offering further evidence that the real estate market is sputtering into its traditionally busiest time of year. The unemployment rate will continue to remain higher than usual until the real estate market is cleared of distressed properties and can be kicked into a more normal state. It was recently reported that the "shadow inventory" of distressed properties has recently fallen to a five month supply.
Most U.S. adults don't think there will be a real estate recovery until 2014. Although most real estate "experts" think that we have reached and are bouncing along the bottom of the cycle, value appreciation may be several years away. We are in a chicken or egg scenario where people say that the real estate market will improve when the unemployment rate drops, when so many of the jobs that were lost are related to the real estate market. Its going to be a while.
Most U.S. adults don't think there will be a real estate recovery until 2014. Although most real estate "experts" think that we have reached and are bouncing along the bottom of the cycle, value appreciation may be several years away. We are in a chicken or egg scenario where people say that the real estate market will improve when the unemployment rate drops, when so many of the jobs that were lost are related to the real estate market. Its going to be a while.
