QUOTE OF THE WEEK... "Sometimes we stare so long at a door that is closing that we seek too late the one that is open."--Alexander Graham Bell, American inventor
INFO THAT HITS US WHERE WE LIVE... There is more and more evidence that the door of opportunity is opening in the housing market. On Valentine's Day Freddie Mac showed us some love in their Housing Market Outlook, which projected starts UP 22% this year, to a 950,000 unit annual rate. Their chief economist commented, "Across the nation, most local housing markets have room for sustainable growth.... As the broader economy heals, expect to see more good news, with house prices continuing their recent upward trend, and home sales and housing starts continuing to post strong growth rates."
Not to be outdone, the National Association of Realtors (NAR) reported Monday that the recovery in real estate values is picking up steam. Median home sale prices were UP 10% in Q4 over last year and 133 of 152 metro areas posted yearly gains, versus just 29 metro areas a year ago. The NAR's chief economist commented, "Home sales are on a sustained uptrend...fueled by a pent-up demand and job creation, along with still favorable affordability conditions and rents rising."
Kristen Zorda
Loan Officer
648 Plank Rd. Suite 203
Clifton Park NY 12065
Office: 518-366-7999
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