Wherever you live, it is always good to know that the housing market is a healthy place to be. Anything can be better than the dip we saw about 7 years ago when the housing market took a decline.
How do we know that this market is still alive and kicking? Here are three facts that show just that.
Looking just at statistics from January alone, this is typically a slower month due to the cold, if you analyze the numbers below that existing home sale 11% since this same time last year. The only region that did not see such an increase is the sub $100k market.
(Source: National Association of Realtors)
2. The demand for the rental market is lessening. Potential home buyers are learning that it is more affordable to actually pay for a mortgage and gain a long-term investment instead of paying a similar amount for a rental property in that same area and gain nothing from it.
This is especially notable for first time home buyers. This change can see a momentum for home prices due to higher demands in more popular areas.
3. Fannie Mae and Freddie Mac, the largest mortgage lenders are working to lower their high credit bar that many potential home buyers struggle to get over. These lenders have also begun to cut their fees and they may continue to lower fees as their finances continue to improve. This is a crucial fact for first time home buyers.
To sum everything up, there are a number of reasons why the market is looking good in 2016 from January 2016’s sales, high rental prices and mortgage lenders lowering their fees.
All of these items make it much more attractive to invest in a home.
Hopefully, the housing market only continues to get better as the years go by – making it a great investment.
Leibowitz Realty Group is your source for luxury homes and real estate properties for sale. No better time than now to enter the real estate market.
Search through our listings and for more information please contact us at 561.262.0721 or 561.262.0722 today!