Forecasts at the beginning of the year expected the recovery to come near the end of 2011, but due to a slow start the "EXPERTS" are now lowering their expectations for the recovery. While some experts think the recovery will next year, some believe that we will see large growth in 2012, compared to the past few years. The chart below shows 5 Industry Experts forecasts for the market, provided by InMan.com.
| 2010 Starts | 2011 Forecast | Gain | 2012 Forecast | Gain | |
| NAHB | 585,000 | 597,000 | 2% | 800,000 | 34% |
| Freddie Mac | 590,000 | 630,000 | 7% | 900,000 | 43% |
| Wells Fargo | 590,000 | 620,000 | 5% | 830,000 | 34% |
| Moody's | 590,000 | 700,000 | 19% | 1,000,000 | 49% |
| Global Insight | 587,000 | 589,000 | 2% | 838,000 | 42% |
"Once consumer confidence comes back, there should be some movement to regain the lost household formations and delayed moves."
My Opinion: This is good news for the industry and the entire country. Good in the sense that there are expectations for LARGE GROWTH, which we probably will not reach, but that means there will be GROWTH. Maybe it's just because I started working for RE/MAX in June and it the summer time tends to have an increase in home sales, but I have witnessed no shortage in buyers and sellers. Bill and I set up and had three open houses today, 1 planned and two because people called the office and WANT to look for a new place.
*Read the full article: <http://www.inman.com/opinion/guest-perspective/2011/06/15/economists-revise-forecasts-real-estate-recovery>
If you have any questions, i'd love to answer them: 314.706.0304, matthew.ullrich@colorado.edu
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