We keep hearing that home affordability is approaching crisis levels. While this may be true in a few metros across the country, housing affordability is not a challenge in the clear majority of the
Home Prices Up 7 From Last Year
“Single-family residential sales and prices continued to heat up in October. On a year-over-year basis, home prices grew in excess of 6 percent for four consecutive months ending in October, the longest such streak since June 2014.
This escalation in home prices reflects both the acute lack of supply and the strengthening economy.”
“The acceleration in home prices is good news for both homeowners and the economy because it leads to higher home equity balances that support consumer spending and is a cushion against mortgage risk. However, for entry-level renters and first-time homebuyers, it leads to tougher affordability challenges.”
Rents Are Also Rising
Derrick has been in real estate for ten years. Before embarking on a career in real estate, Derrick served his country honorably for nine years in the United States Navy supervising young aviation ele....
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If you are debating whether or not to list your house for sale this year, here is the #1 reason not to wait!Buyer Demand Continues to Outpace the Supply of Homes for SaleThe National