Strong Price Gains Fuel Market Confidence

By Gino Blefari, President & CEO, Intero Real Estate Services, Inc.

Intero value #14 is confidence.  Confidence /con·fi·dence/ •noun.  Freedom from doubt; belief in yourself and your abilities.

Confidence is also the word in housing this week. At least that's what we're hearing from some of the top companies in housing finance.

JPMorgan Chase revised its forecasts for the industry, prompted by large gains in home prices. And Fannie Mae released its monthly national housing survey, showing a sharp increase in consumer confidence in the housing market.

Home prices could grow as high as 7.2% this year, according to JPMorgan's new report. Analysts at the bank studied prices and demand conditions as the market moves into summer. They revised 2013 predictions higher as well as projections for 2014 and 2015, with an expected 3.9% and 3.2% growth, respectively.