Positive Predictions on Housing Recovery

While our beloved city of Buffalo has remained largely unscathed by the nation’s real estate trouble, the market still could be on the rise.? The Urban Land Institute, a think-tank that focuses on land use, predicted positive growth in the next three years.? According to their report, home prices will rise in the next three years, and by 2014, the demand for single-family housing will almost double.? One thing that the study doesn’t take into account are homes in delinquency (or foreclosures and short sales), which tend to drive prices down and increase competition in local markets.? The report also stresses the fact that, while there is growth, it is not going to be the same type of growth the nation saw in the early 2000s.