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Housing Recovery Under Way?

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  • Description

    FBN's Adam Shapiro on data pointing to a housing market recovery.

  • Duration 1:42
  • Date

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With some numbers showing.

Housing prices on the rise -- rates moving low work -- recovery.

And the housing market be finally underway Adam Shapiro joins me now is some data that showing that it's actually not that now ample.

-- -- -- -- It's complicated and and remember that a lot of the data that comes out comes from realtors to and from the the realty industry so.

They have -- they want prices to go up not a bad thing but before you jump for joy we are seeing price increases in places like Miami.

6% month over month.

But they take a look at five serve which took a look at the Case Shiller Index and it Moody's analytics what they're saying is that.

From 2012.

The first quarter 2012 to the first -- of 2013 year over year we're going to see nationwide.

A price decrease of roughly 1%.

And in places like Jacksonville Florida falling 3.3 percent Orlando will fall six point 8% Philadelphia one point 9% Sacramento 2.2 percent San Jose.

One point 9% at the end of the day.

They expect to see the prices start to go up in 2013.

We're not there yet so zillow called -- bottom just the other day.

What five service saying is no we haven't hit bottom yet and they're saying there's still some unknowns out their first roughly 30% of mortgages are underwater.

Those properties haven't hit market yet because people are holding out as long as they can make.

-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- To put your market your your property -- shot that kind of but we have a gas coming up this saying it cannot pull the trigger now -- craze -- -- look at some more perspective on the same story yeah.

Very much Adam --

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