Being cautiously optimistic has become the 'trend' for those of us remaining in this turbulent market. Sometimes the news is so negative that we have to go a bit overboard to 'prove' that there really are points to be positive about in this market.
Alas, we have some good news--in print! In a recent article from CNBC regarding the improving U.S. housing market, key points revealed are as follows:
1. Economists believe that the market may be in recovery mode by end of second quarter '09.
2. 30-year fixed mortgages are near historic lows that have not been seen since spring, 2003, very briefly.
3. Even before the recent decline in mortgage rates, the NAR's housing affordability index was at a high for the year.
4. Sales of existing homes are down sharply from their peak in 2005 however, the annualized sales rate has steadied in Q4.
5. Inventory has decrerased from April's high of 11.2 months to 10.2 months and continues to trend downward.
Read the entire article.
Sam Zell, a real estate entrepreneur, interviewed on Squawk Box this morning, and in a recent Forbes article, says he believes that the U.S. housing recovery will begin this spring!
As well, The Wall Street Journal's recent article, "The Future of Home Prices," touts real estate as one of America's best investments.
Stay tuned for more forthcoming news with the recent decrease in mortgage rates.
About the author:
Debe Maxwell is a Charlotte Residential Real Estate Broker, Certified Neighborhood & Relocation Specialist, ABR & e-PRO who can assist you with the purchase and/or sale of real estate in the Charlotte NC Metro Area. If you're relocating to or from any other area of the country, Debe connects you with any member of her team of relocation professionals in your destination or exit city of choice. The destination service is of no cost to you! The Maxwell House Group's quality service guarantee puts this team far ahead of the competition; providing unsurpassed customer service is their #1 priority! Debe Maxwell -- Helen Adams Realty -- 704.491.3310
Disclaimer: All information provided by this author is strictly an opinion, is not guaranteed, may be based on information collected from several sources, which may or may not be deemed reliable at the time of researching this article and may be time sensitive.