generally lag changes in sales

The latest Fiserv Case-Shiller Indexes also report signs of price stabilization burberry women shoes. David Stiff, chief economist at Fiserv, notes that non-price metrics like home sales volume, increased spending on home improvement and more multi-family construction indicate that the housing sector has bottomed. “We expect that home prices, which generally lag changes in sales activity by nine to12 months, will stabilize by the end of this summer and then rise at an annualized rate of 3.9 % over the next five years,” asserts Stiff in a statement. Fiserv says the spring and summer selling season will be fueled predominantly by investors this year. NAR estimates that roughly one-third of all purchases are already investor-related burberry best sunglasses 2012 cheap for sale brown. As rents continue to rise, first-time buyers and trade-up buyers will eventually follow, lured by the record affordability levels of home ownership, Fiserv predicts.Fleming points to Washington, D.C., New York City and Phoenix, Ariz. as examples of markets where recovery is already taking hold. Despite the hopeful prognoses from these reports, it’s also crucial to note that housing is and should be viewed on a local level rather than nationally. As I have noted before, different markets will bottom and recover at different paces depending on a variety of factors this year, including the availability of local jobs and how fast foreclosures can be processed and reabsorbed into local markets burberry bags sale.