Some Analysts See Potential Housing Boom
New York, NY, Oct. 15, 2012 -- A few analysts are starting to believe that the U.S. may be on the verge of another housing boom, according to a CNNMoney story.
Rising home prices, fewer foreclosures, record low interest rates, and increasing construction are all seen as spurs to a potential boom.
CNN reported that Barclays Capital published a report recently forecasting that home prices, which fell by more than a third after the housing bubble burst in 2007, could be back to peak levels as soon as 2015. The firm said the housing market over corrected the last five years.
In addition, CNN said that some experts believe housing construction could be back near the pre-bubble average of about 1.5 million new homes a year by 2016.