As rebound effects fade, strong fundamentals for housing activity will start to appear in several markets
Consumers are upbeat and think 2015 will be a better year than 2014, writes Trulia’s Chief Economist Jed Kolko.
Kolko notes that recovery will be slow as the rebound effect fades before fundamentals strengthen. Price levels and price changes are approaching normal, foreclosure inventories are dwindling, and investors are pulling back. But after the rebound, markets in the Northeast, South, and West will develop strong fundamentals fastest, such as solid job growth.