Real Estate Recovery as Credit Scores Rise in Katy, Texas and Nation
The good news across the nation is spreading like wild fire. This week Equifax credit reporting bureau disclosed the average credit score rose to 696 during May, 2011. This is the highest average credit score in the last 4 years. Experts state the average credit score is an excellent predictor that banks/lenders will get repaid.
As credit scores rise individual households will have more marginal income to spend as their basic cost of money will go down. Individual household financial condition across the US has improved much faster than anyone thought was possible.
The Federal Reserve Bank of New York reported that US consumers reduced their debts by $1 trillion dollars during the 10 quarter period ending March 31, 2011. In my opinion this is amazing number. Maybe all of us consumers could teach the government bureaucrats a thing or two about cutting debt!
What this blog and my other Real Estate Recovery blogs continue to point to is that this is a really good time to buy a new or resale home in Katy, Texas or pretty much anywhere in the United States. There are numerous of homes for sale in Katy, Texas and as a Realtor I can help you find an excellent home at a reasonable price. interest rates are low and will not stay at these low levels for very much longer.