U.S. housing market outlook according to one bank

“The overhang of foreclosed properties held by the U.S. banking sector is estimated to be in excess of 12 million units,” Ashur adds. “This volume of salable units will represent a drag on price improvement in the sector at least through the end of 2011 or until U.S. unemployment rates decline significantly.”

January 13, 2011 by Realtor John Wake

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John Wake

Born in Phoenix, trained as an economist and now a licensed Realtor, John uses hard data from the real estate market to help his clients -- buyers and sellers of residential real estate -- uncover their best choices for finding the right home or finding a buyer for their current home.

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