SAN FRANCISCO (8/3/12)--The latest quarterly Housing & Mortgage Market Review issued by CMG Mortgage Insurance Co. (CMG MI) presents a U.S. housing market on the upswing and potentially past the bottom for both home sales and prices.
The report, written by economist Ralph DeFranco, University of California, Berkeley, analyzes key regional and national market data to support the view that leading indicators of home sales continue to trend upwards and that growing pent-up demand, record affordability and a rapidly falling supply of houses for sale point to a sustainable turnaround in home prices.
Although the report cautions that the continuing European economic crisis may negatively impact the recovery, DeFranco writes that many of the frequently mentioned housing market concerns are overblown. He predicts that "the housing market rebound will be stronger than conventional wisdom is forecasting, at least in many markets."
The report also presents the latest Housing Appreciation Risk Index and a regional roundup of employment, delinquencies and house prices.
"CMG MI's Housing and Mortgage Market Review is a valuable tool for real-estate-lending credit unions," said Jill Estep, CMG MI senior vice president and co-general manager. "It delivers an expert analysis of the various data and makes sense of what's going on in the industry, especially at this crucial time."
To view the report, use the link.