Industry experts upbeat about improving housing market, job growth

The housing market is expected to improve through the next couple of years.

The National Association for Business Economists released a report which showed that property management companies may experience improved industry growth for the rest of 2012 and next year.

The improvements in the housing industry should be driven by job growth, the report explained. Initially, experts projected that there would be approximately 170,000 new jobs each month this year. However, this has been revised to a total of 188,000. In all, this would drop the national unemployment rate to around 8 percent by year-end, and by the end of next year, it would again drop to 7.5 percent.

There also may be a significant improvement in housing starts, according to the report. This year should witness an 18 percent increase in starts to a total of 720,000. This should again rise to 850,000 at the end of 2013.

The report added that consumer spending is expected to grow by close to 2.2 percent in 2012 and 2.5 percent next year. While this is below the typical average of 2.8 percent, the figures show that growth is occurring.

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