Analysts Say Housing Is Better But Still Fragile
Analysts are saying that low interest rates and low prices could encourage more people to buy homes soon or refinance the ones they have.
"In most markets, the crash is over and stability is beginning," said Joel Naroff at Naroff Economic Advisors. "[Real Estate practitioners] are saying it isn't great, but it's better than last year. If refinancings get going, that will help consumer confidence."
Mark Zandi, chief economist of Moody’s Analytics, sees it slightly differently. He thinks lower mortgage rates aren’t going to stop home prices from falling further. "The housing market is still really fragile," Zandi said.
Source: USA Today, Stephanie Armour (11/11/2010)