May 15th, 2012
Global relocation may be more affordable and practical in the United States, as the residential housing market is showing stark improvements. According to a report from The Demand Institute, the housing situation may be making significant progress as the year continues.
The report noted that home prices are expected to rise by an average of 1 percent during the second part of 2012. In addition, home prices may jump by 2.5 percent by 2014, with annual rises of as much as 4 percent through 2017. While different areas may be improving at different rates, it is expected that the whole country will benefit.
“In the long-term, we don’t expect homeownership rates to change,” said Bart van Ark, chief economist at The Conference Board and co-author of the report. “Over 80 percent of Americans in recent surveys still agree that buying a home is the best long-term investment they can make.”
Low home prices now may encourage more employees to be willing to relocate, as affordability is at a high point. Market stabilization could also help them sell a current residence. This could also help businesses who are considering relocating consumers but are concerned about overall cost and potential complications.