Individuals looking for real estate in the US may be interested to learn that the market is forecast to undergo a slow and steady recovery.
This is the view of the National Association of Realtors which is expecting an improvement in underlying market fundamentals in the coming years.
Margaret Kelly, chief executive officer of RE/MAX, remains cautiously optimistic about the prospects of the market but she added that there still remained challenges which need to be overcome.
"To be successful in the current housing market, real estate professionals need to educate themselves about buying and selling distressed properties and working with investor buyers, who are a significant part of the market," she explained.
"Real estate professionals should be learning how to handle short sales, how to market themselves and find buyers and to really understand market conditions."
This combined with low mortgage interest rates, abundant inventory and stable prices will help attract investors to the market, she added.