10 Market Facts for Uncertain Times
Great summary of current market facts that influence home buying and selling. The combination of #7 - that median home prices are beginning to match up well with earning power in most markets - and #4 - that borrowing costs are at generational lows - makes home ownership accessible for many households.
10 Market Facts for Uncertain Times
NAR September 2010
Although the economy is soft and consumer confidence remains low, new data from the National Association of REALTORS® shows positive signs for the future. To help interpret current economic data and address clients' concerns, here are 10 key facts to understand about today's market.
1. The economy is growing, though slowly.
2. The private sector is finally creating some jobs.
3. Consumer confidence remains low, though clearly off bottom.
4. The 30-year mortgage rate is at generational lows.
5. The national median-home price is stabilizing.
6. Other home-price measurements also are showing price stabilization.
7. Home price-to-income ratios have returned to fundamentally justifiable levels.
8. Economists expect price increases in upcoming years
9. Delinquencies are high but recent loan originations are performing well.
10. The long-term path to self reliance may be helped from long-term housing-wealth gains.This information was provided by the National Association of REALTORS, and shows that there are positive actions taking place in the national economy and concerning the housing market.
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