The housing market is predicted to become one of the major stories for 2013, with sales improving more than 20% in 2012
Boston MA (PRWEB) February 21, 2013
LeaseQ, one of the leading providers of equipment leasing and financing in the United States, is predicting a slow but steady economic upturn in 2013. The most recent economic indicators demonstrate that two key areas of the US economy are holding a steady course or slightly accelerating.
Both home construction and manufacturing sectors demonstrated solid if sluggish growth in January, even as the overall economy continues to perform below par, and millions of Americans still struggle to find gainful employment. The best news is that the economy has absorbed the hit from a recent tax increase, and consumers are, overall, more positive. The Dow Jones Industrial Average sits near an all time high, and investors are seeing less economic stress than was evident in the marketplace just a few short months ago.
The housing market is predicted to become one of the major stories for 2013, with sales improving more than 20% in 2012, contributing to the growth of the economy for the first time in six years. Construction on new single family homes rose to 28% last year, with more than 800,000 homes built, and 2013 expectations are even higher. According to industry analysts, mortgage rates are low, sales are improving, credit is becoming more available, prices are climbing, the inventory overhang is going away and household formation is on the rise.
Rising home prices and rising stock prices, accompanied by less debt, means that many Americans have recouped much of the loss incurred through the financial crisis.
Job security is still a concern for many, however, even with the pace of layoff slowly declining, and more people willing to take the step of quitting their jobs to look for a better one. Consumer confidence was rated as higher than average in January and February.
Based in Cleveland OH, Restoration Local is one of the leading providers of business equipment leasing and financing options. They offer plans designed to accommodate both small business startups and Fortune 500 conglomerates.