Ever since the beginning of the century, Real estate property economists have been saying that the U.S. housing market was prone to serious collapse. Also the national media such as the New York Times had reported on the possibility of numerous defaults with subprime mortgages. However, professional analysts are starting to agree that the market is on the path to recovery.
The National Association of Realtors noted a 12.3 percent increase in existing home sales from November to December 2010. This seasonally adjusted increase would indicate the fact that the market is stabilizing nationally, especially in view of the fact that this is actually the fifth adjusted increase in 6 months. Increases are certainly not consistent in all areas, but they are enough to indicate an overall positive trend.
Another positive observation is usually that first-time home buyers are finally going back to the housing market. The tax credit for first-time home buyers has expired, but this is the main reason for the recent progress. Rising rents also encourage anyone who has been renting houses and apartments for quite some time to move towards home ownership. Job growth also promotes home ownership.
Real estate sales appear to be recovering from an all time low recorded in April of 2009. In reality, the complete economy appears to be recovering steadily though it may be slow. Once we reach a sustainable economic level, the U.S. in its entirety has recorded double-digit sales gains. Low mortgage rates also have helped boost sales ever since the home buyer tax credit has expired.
It is important to do not forget that the national housing market is made up of several local real estate markets. The healthier markets have not experienced a significant price deflation or massive foreclosures. These include San Francisco, Salt Lake City, Fort Collins, Colorado, Oklahoma City, Oklahoma, Raleigh, North Carolina and San Antonio, Texas. Most of these areas have strong science and technology industries.
However, many real estate markets continue to be in danger. Included in this are Prescott and Phoenix, Arizona and Ocean City and Atlantic City, New Jersey. Florida has a quantity of depressed markets including Cape Coral, Fort Lauderdale, Gainesville, Miami, Naples, Pensacola and West Palm Beach. In reality, Florida was among the first states to be eligible for a President Obama's Hardest Hit program to get funds to aid in the crisis.
The residential U.S. housing market continues to be sluggish despite the fact that home prices are some of the lowest noticed in years and mortgage rates have hit record lows. The main culprit is unemployment. If people fear losing their jobs they are unlikely to agree to a thirty year mortgage. Uncertainty about future economic stability often leads to a slowdown in real estate sales.
It's really a good time to pick a second home for vacations or maybe for investment purposes. If you are a current homeowner that has an excellent credit history, you possibly can acquire a home equity loan with superb rates. This equity cash should be considered as a first deposit to get a hideaway. The reduced home interest rates have attracted many repeat buyers.
The National Association of Realtors noted a 12.3 percent increase in existing home sales from November to December 2010. This seasonally adjusted increase would indicate the fact that the market is stabilizing nationally, especially in view of the fact that this is actually the fifth adjusted increase in 6 months. Increases are certainly not consistent in all areas, but they are enough to indicate an overall positive trend.
Another positive observation is usually that first-time home buyers are finally going back to the housing market. The tax credit for first-time home buyers has expired, but this is the main reason for the recent progress. Rising rents also encourage anyone who has been renting houses and apartments for quite some time to move towards home ownership. Job growth also promotes home ownership.
Real estate sales appear to be recovering from an all time low recorded in April of 2009. In reality, the complete economy appears to be recovering steadily though it may be slow. Once we reach a sustainable economic level, the U.S. in its entirety has recorded double-digit sales gains. Low mortgage rates also have helped boost sales ever since the home buyer tax credit has expired.
It is important to do not forget that the national housing market is made up of several local real estate markets. The healthier markets have not experienced a significant price deflation or massive foreclosures. These include San Francisco, Salt Lake City, Fort Collins, Colorado, Oklahoma City, Oklahoma, Raleigh, North Carolina and San Antonio, Texas. Most of these areas have strong science and technology industries.
However, many real estate markets continue to be in danger. Included in this are Prescott and Phoenix, Arizona and Ocean City and Atlantic City, New Jersey. Florida has a quantity of depressed markets including Cape Coral, Fort Lauderdale, Gainesville, Miami, Naples, Pensacola and West Palm Beach. In reality, Florida was among the first states to be eligible for a President Obama's Hardest Hit program to get funds to aid in the crisis.
The residential U.S. housing market continues to be sluggish despite the fact that home prices are some of the lowest noticed in years and mortgage rates have hit record lows. The main culprit is unemployment. If people fear losing their jobs they are unlikely to agree to a thirty year mortgage. Uncertainty about future economic stability often leads to a slowdown in real estate sales.
It's really a good time to pick a second home for vacations or maybe for investment purposes. If you are a current homeowner that has an excellent credit history, you possibly can acquire a home equity loan with superb rates. This equity cash should be considered as a first deposit to get a hideaway. The reduced home interest rates have attracted many repeat buyers.
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If you want to buy a home in a great area then look at Lake Conroe homes. Or perhaps The Woodlands Homes is more your taste.. This article, What You Need To Know About Real Estate is released under a creative commons attribution license.
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