As the U.S. population increases, there is also an increase in the need for new homes From 1990 to 2005, the number of single-family permits issued more than doubled, while the number of multi-family permits grew by 49 percent.
Today, expert projections still forecast continued growth, just at a slower pace. One of the often-overlooked benefits of rising home prices is the positive impact they have on home equity.
According to Fannie Mae’s National Housing Survey American Confidence in Housing at an All-Time High.
Today, the homeownership rate sits at historic norms. In all probability, it will increase as more inventory becomes available. There is no reason for concern.
Two things to know about down payments. 1. How much do you really need for a down payment? 2. How can I get help with my down payment?
Challenges in the housing and mortgage markets were major triggers of the last recession. However, a housing slowdown ranked #9 on the list of potential triggers for the next recession, behind such possibilities as fiscal policy and political gridlock.
A substantial portion of family wealth comes from home equity. As the value of a family’s home (an asset) increases, so does their equity.
The current housing landscape presents greater home values, low interest rates, and high buyer demand. All of these factors point to the strong market forecasted to continue throughout the rest of the year.
Home Prices Up 5.05% Across the Country, both regionally and by state. Based on the on the numbers, waiting to relocate could end up costing you more!
With prices appreciating and low interest rates available, it’s a perfect time to buy or sell a home. Reach out to a local real estate professional to see how you can take the next step in the exciting journey of homeownership.
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