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Despite recent volatility, the housing market is approaching a new cycle that should bring an uptick in prices, according to a recent presentation from Altos Research. Scott Sambucci, vice president of market analytics at Altos, said he and his team believe there is plenty of upside in the housing market and, unlike other housing reports that analyze data from previous months, Altos is basing its forecast on current data, which shows the price of new listings heading upward. Sambucci says the notion that the housing market would hit bottom and head back up consistently ignores history and there’s plenty of data that shows consistent boom years are rare and followed by extended periods of up-and-down movement. More here.
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