1. Housing
prices are on the rise across the country.
2. Foreclosures
have slowed. Analysts suggest that as the supply of distressed homes slows,
buyers will be forced into higher-price properties too.
3. Inventories
of for-sale homes on the market are decreasing. In fact, inventories of
for-sale homes have dropped 24 percent from a year ago.
4. Mortgage
rates are at ultra record level lows, for those who can qualify.
5. Housing
starts rose 6.9 percent in June. Also, existing-home sales were up 4.5 percent
higher in June compared to one year ago.
6. Home
building stocks are on the rise.
7. For
investors who are buying homes, rents are soaring, allowing them to cash in on
their investments. Rental prices are at a 10-year high as median units rent for
$710 a month.
8. Home
affordability is at record highs for the median income family, due to falling
home values and super low mortgage rates. In fact, a recent study found that it
is cheaper to buy a home than rent in basically every major city in the U.S.
For those who buy, you can save the cost of renting by owning the home for five
years or less.
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