Pop Champagne, US Housing Crisis Over

Pop Champagne, US Housing Crisis Over

Residential News » Market Buzz | By Michael Gerrity | April 26, 2013 10:56 AM ET

For the first time since 2007, more that 50 percent of Americans now believe U.S. home prices will go up in value in 2013, according to a new Gallup poll. This month clearly marks a tipping point for consumers--after five long years, the housing market has finally bounced off the bottom and the market is back in full swing.

The recent reports on the housing market certainly validate that confidence. The latest numbers from the National Association of Realtors show median home prices increased 11.8 percent in March from a year ago. Zillow predicts that 223 of the 261 markets it tracks will see an increase in valuations this year.

But numbers have been rising for few months. The difference now is that the public is buying into the recovery. According to Gallup, 73 percent of Americans say it is a good time to buy, the highest number since 2003. Only 14 percent believe prices will decrease.

Homes-sold-home-for-sale-report.jpg"Americans are as bullish on the housing market as they have been at any time since before the housing bubble burst several years ago," Gallup reports.

There is a saying that "perception is reality."

If that is the case, it may be time to start popping the champagne for the U.S. housing industry.

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