Just out---the latest release from the National Assoiciation of Realtors Housing Affordability Index, buyers can get the most home for their money since the 1970's.
According to NAR president, Charles McMillan, "Housing affordability is at a record high - the buying power of a typical family has risen significantly," he said. "With the drop in interest rates, a median-income family can afford a home costing $20,000 more than a year ago for the same monthly mortgage payment. With the strong housing stimulus, we are hopeful inventory will get trimmed and which will help prices stabilize in many areas by the end of this year."
This is great news, even though the pending home sales for January is down over January, 2008. The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.
SO, BUYERS---TIME TO GET OFF THE FENCE!
If you have been considering buying a new home in Johnston county, North Carolina, give me a call at 919-418-7442 and I will be happy to help you in your search for a new home.
Linda W DeRusha
Re/Max Southland realty
620 NC Hwy 42 W
Clayton NC 27520
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