This Could Be Housing Market’s Comeback Year

This may be the year that the housing market turns the economy around. In a recent poll done by CNNMoney, more than half of economists surveyed identified a housing recovery as the primary driver of economic growth in 2013. Analysts see that the market conditions, namely low supply and growing demand, as being in much better balance now. This will lend itself to the homebuilding industry, as analysts are predicting anywhere from a 28-50% rise in housing starts, which could potentially create over 1 million new jobs. The rising home prices and potential job creation are both positive factors for consumer spending; home values can have huge effects on consumer spending. Visit CNNMoney to read the full report breakdown.