Most U.S. brokers say housing market is already improving

May 18, 2012 01:30PM

Confidence in the U.S. housing industry has returned, and as The Real Deal previously reported, bottoming prices and record affordability are bringing buyers back to the market. Now brokers are feeling the positive effects. Four out of five brokers say that they believe the housing market has stabilized and 70 percent say that prices are on their way back up, according to a national survey of 1,022 RE/Max agents cited by Property Wire.

“For active real estate agents, this market is definitely heating up. They are witnessing a recovery across the country fuelled by home buyers and sellers taking advantage of a significant market opportunity,” Margaret Kelly, RE/MAX chief executive officer, said.

But this newfound confidence in the market doesn’t go all the way across the economic spectrum. While 80 percent of brokers claim that demand for cheap housing is strong and 71 percent say that interest in mid-value housing is good, 58 percent admitted that demand for expensive homes is fair or poor. It’s a stark contrast from the New York City market where luxury properties are in high demand. [Property Wire]