Finally Some Good Housing News!
These days we're all for Good Housing News! Now is absolutely the time to take advantage of low interest rates. Just yesterday, I heard we have areas of wake county with current appreciation rates between 1% and 11%. Wow, can you believe there is a neighborhood with 11% appreciation? Well, I hear North Hills is the place to be! Click here for additional Info about the North Hills area. And if you're interested in the North Hills Lifestyle, check out Midtown Magazine.
If you're interested in homes in the North Hills area, click here to request info.
Keep reading for interesting information and Good Housing News:
Well all we hear is BAD NEWS these days, a word of good here and there is good to hear if the media will report some positive.
According to National Association of Realtors our Sales are up and with the Lowest Interest Rates in History affordability is now more than ever. We still have recovery time ahead of us but even a little ground gained is a good thing. The Triangle area of NC is one of the strongest Real Estate investment area's in NC. With Research Triangle Park, 3 Major Universities, Duke, NC State, and North Carolina Chapel Hill our jobless rate dropped in August for even more positive news.
Check out homes with Kowitz & Freund Realty Team
Sharon Kowitz 919-831-3022 or Carla Freund 919-602-8489
www.KowitzRealty.com www.CarlaFreund.com or visit our community at www.OldeCarpenter-Cary.com
Pending Home Sales Rise
Release date: 09/02/10
Following a sharp drop in the months immediately after expiration of the home buyer tax credit, pending home sales have modestly risen, according to the National Association of Realtors®.
The Pending Home Sales Index,* a forward-looking indicator, rose 5.2 percent to 79.4 based on contracts signed in July from a downwardly revised 75.5 in June, but remains 19.1 percent below July 2009 when it was 98.1. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.
Lawrence Yun, NAR chief economist, cautioned that there would be a long recovery process. "Home sales will remain soft in the months ahead, but improved affordability conditions should help with a recovery," he said. "But the recovery looks to be a long process. Home buyers over the past year got a great deal, and buyers for the balance of this year have an edge over sellers. For those who bought at or near the peak several years ago, particularly in markets experiencing big bubbles, it may take over a decade to fully recover lost equity."
Yun added, "Affordability could reach a generational high in the second half of this year because of rock-bottom mortgage interest rates, helped partly by the Fed's very accommodative monetary policy. The loan underwriting standards are tighter, but home buyers can improve their chances of getting a loan by staying well within their budget."
The PHSI in the Northeast rose 6.3 percent to 62.5 in July but is 21.1 percent below a year ago. In the Midwest the index increased 4.1 percent to 66.7 but remains 25.7 percent below July 2009. Pending home sales in the South rose 1.2 percent to an index of 86.3, but are 15.6 percent lower than a year ago. In the West the index jumped 11.6 percent to 95.0 but is 17.6 percent below July 2009.
The national index had fallen 29.9 percent in May and another 2.8 percent in June.
Source: The National Association of REALTORS
Comments(0)