News Release: CLRSearch Expects Housing Market to Stabilize Based On Year End Data Review
As the year comes to a close, CLRSearch predicts 2012 may be the year the housing market begins to stabilize based on the analysis of listing prices and property searches on CLRSearch.com
Growing financial incentives and a recent increase in traffic for property searches could mean 2012 may be the year the housing market begins to stabilize according to real estate search engine, CLRSearch. After analyzing 2011 data, the stabilization in listing prices and the recent increase in property searches on CLRSearch.com leads the company to believe the New Year will hold the highest traffic season they have seen in some time.
According to Lawrence Yun, Chief Economist for the National Association of Realtors, the 2012 baseline forecast for existing home sales is a rise of 5 percent, while home prices will finally turn positive, albeit by only 2 percent. With the majority of consumers starting their home search online, CLRSearch is already beginning to see their website traffic numbers rise.
Despite the downgrade of US debt during the summer, 30 year mortgage rates are at record lows as the US is still seen as a safe haven when compared to Europe. Furthermore, according to Case Shiller, housing prices in many areas have continued to come down even further giving home buyers even more of a financial incentive to buy now.
“The downgrade of US debt was anticipated to cause higher interest rates as our debt became more risky, but with the sovereign debt issues of a number of European nations, US interest rates have been driven to historic lows,” says founder of CLRSearch, John Verdi. “We are like the best house in a bad neighborhood, and it is our belief that buyers will take advantage of these historical low rates and prices.”
CLRSearch.com’s easy to use interface allows home buyers to search listing and communities around the country with interactive maps and complete demographic information within communities so searchers can research education, lifestyles, income, drive times, crime, growth and more. Imported daily feeds ensure buyers receive the most up to date information available. They can even have new suggested listings emailed to them based on saved search criteria, or get right to the source to find the broker or agent for additional information.
The mission of CLRSearch.com is to connect real estate professionals with homebuyers to find the right home in the right place.
CLRSearch.com is a data rich Real Estate Search Engine where users can explore listings, foreclosures, community demographics, school information, and other data relevant to one of the most important decisions in anyone’s life.
With more people connecting online than ever before, CLRSearch.com hopes to create a space within the ever-expanding social networking infrastructure to allow real estate professionals to grow and increase their referral base. Additionally, CLRSearch.com offers a self-service LocalExpert Advertising Platform that provides agents and brokers with a way to take advantage of their hyper-local ad market.