If you are on the fence considering buying a home, take these key facts into account:
• Can you afford a new home?
• Is it the right time in this economy?
• Rent versus buying?
Well, what if you were told that the time to buy is now? Demand is increasing resulting in higher home prices. What if those of you who are renting were told that due to decreased inventory, your rent is going up and that you may be spending at least half of your income on rent? Becoming a homeowner is a big step. In order to make an informed decision, you need undeniable facts and proof.
When you hear claims of a market comeback are they nothing short of rumors or true? You need to have actual facts and numbers that can back up the claims of a real estate comeback. You want accurate and detailed facts that essentially will save you money.
We have included graphs, websites and excerpts from each in a 4 part series to showcase the reasons why the time to buy is now.
Rising Home Prices
Home prices are rising, which is one of the main signs of a positive market turnaround. According to many credible new sources, such as Time, CNN, Bloomberg and NASDAQ, home prices are on the rise.
Many of these resources are stating that the market has already bottomed out, as in it is now on the rise. Here are a few examples of these price increases:
“A measure of U.S. home prices jumped 4.6 percent in August compared with a year ago, the largest year-over-year increase in more than six years.”
Read the full story on opens in a new windowWashington Post
“According to CNN, the S&P/Case-Shiller national home price index, home prices rose by 1.6 percent in July; Tighter supplies of homes and record low mortgage rates available for sale have contributed to the lifting of home prices”
Read the full story on opens in a new windowRealty Today
“Recent housing indexes have shown single-family home prices are on the rise, providing more evidence that the “bottom” of the market is already behind.”
Read the full story on opens in a new windowFlorida Realtors
“Separate housing index showed that through the first seven months of the year, home prices have risen by a larger amount than any year since 2005, according to the S&P/Case-Shiller indexes.”
Read the full story on opens in a new windowFox Business
“Rising home values and higher stock prices are helping bolster sentiment, which may encourage households to boost the spending that accounts for about 70 percent of the economy.”
“These existing home sale numbers seem to reinforce the notion that buyers across American don’t believe that home prices will fall any further.“
Read the full story on opens in a new windowBusiness Time
“Now that people can finally see the real estate recovery, they’re starting to believe it, too. It’s not just investors, either. It’s the mainstream press.”