With sales and prices increasing
in most regions of the country, it looks as though housing recovery is in full
swing. There are more and more housing analysts declaring that we have turned
the corner. A recent article on money-rates.com
explains that now may be the time to act if you are thinking of purchasing ahome.
“Right now, conditions for buyersare exceptionally good, because current mortgage rates are at record low
levels, and housing prices are still well off their peaks. Already though,
recent numbers indicate that housing prices are starting to move. If this
continues, mortgage rates might follow. In particular, if lower-end housing
prices are now making the strongest gains, people looking to enter the housing
market for the first time should prepare to act.”
Others Are Also Calling a Bottom
In a Chicago Sun Times article, co-creator of the Case-Shiller home price index Robert Shiller agreed saying that, even though there are still questions in the overall economy, “it’s a good time to buy a house”.
Ivy Zelman, chief executive at
research firm Zelman &
Associates, has also said:
“[Housing] is turning positive and we see the data reflecting that.”
“[Housing] is turning positive and we see the data reflecting that.”
Writing in the Financial Times, Roger
Altman, former deputy Treasury secretary, said:
“A turn in the [housing]
market is occurring now and it should become a boom by 2015.”
And Jamie Dimon says the U.S
housing market has “turned
the corner” as JPMorgan Chase and Wells Fargo, the two biggest US
Banks have seen a surge in mortgage demand. He also warned that interest rates
would “probably” rise “sometime in 2013”.
What Does That Mean to You?
If you have been waiting for the
bottom in real estate prices, it seems your time may have arrived. As the Money-Rate article
concluded:
“The housing market may be better
off than people know. As many found out during the housing boom, waiting until
everyone knows the market is healthy before you buy can be an expensive
proposition.”
**Information taken from KCM Blog
If you are considering buying or selling a home in Evanston, please let us know. Your experience should be one that leaves you feeling satisfied. Be sure to contact us today so that we can put our expertise in the Evanston Real Estate market to work for you!
The
Thomas Team
@ Properties
@ Properties
Chicago's
#1 Real Estate Brokerage
Chicago
& North Shore Real EstateVisit Our Website
View Our Listings
Contact Us
