Housing Market Has Bottomed | Why It Really Is a Good Time to Buy a Home

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Home Builder with Stanton Homes - New Home Builder

Americans Believe Home Prices Will Increase Sooner

Borrowers Working To Reduce Debt

Fannie Mae's latest national housing survey finds that most Americans believe the housing market has bottomed.  Seventy percent of Americans think it is a good time to buy a house, compared with 64 percent in a similar survey conducted in January 2010.

The Fannie Mae National Housing Survey polled homeowners and renters between June 2010 and July 2010. Findings were compared to a similar survey conducted by Fannie Mae from December 2009 to January 2010 and released in April 2010, and a similar survey conducted in 2003.

Raleigh Market Reports | Custom Homebuilders | Raleigh New HomesMore Confident Housing Market Has Bottomed

According to the survey, the majority of Americans (with an increase to 78 percent) believe that home prices will remain flat or go up over the next year.  This is a five percent increase from the survey at the beginning of the year.

This increase in confidence actually occurred AFTER the end of the housing tax credit.

Rents are anticipated to remain the same or go up - a total of 85 percent of Americans thought that rental prices will increase or stay the same over the next 12 months, with about half that group thinking they will see increased rental prices.

It Really IS a Good Time To Buy a Home

Forget those sappy commercials - according to this random survey, a total of 70 percent of Americans really do think it's a good time to buy a home, up six percent from the January survey.

A majority of Americans (total of 67 percent) continue to believe that buying a home is a safe investment.

Fewer Americans think it will be very difficult to get a home loan, down six points since January. 

The combination of record low interest rates and energy efficient, cost effective homes is giving homebuyers more buying power than ever before.

Homebuyers Are More Debt Conscious

We're seeing a strong focus on more cost effective homes with fewer bells and whistles.  Our homebuyers are looking for energy efficiency, and a floor plan that truly works for them with possibilities for future homeowner projects to continue to add value.  So we're not surprised at the next survey result.

Twenty-two percent of mortgage borrowers said they have reduced their mortgage debt significantly in the last year, and 27 percent of the mortgage borrowers say they have reduced their non-mortgage debt significantly.

Raleigh Market Reports | Custom Homebuilders | Raleigh New HomesRaleigh Market Stays Strong

According to the most recent reports, appreciation is still positive across the Triangle.  That means that homes are still INCREASING in value in the Raleigh area, as they have continued to do over the past ten years.  Raleigh never saw the "bubble" effect that many other large markets suffered through. 

Wake County - 1.09% appreciation

Durham County - 1.22% appreciation

Orange County - 2.44% appreciation

Chatham County - 1.43% appreciation

USA National - negative 1.21% appreciation 

While appreciation rates are a little lower than they were during the boom, homes are still increasing in value.  What a great place to live and own a home!

 

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Articles copyright Stanton Homes 2006-2018.  Unauthorized use is not permitted.  Provided for informational purposes only, no claims are made by Stanton Homes regarding the validity of any statements.  Please note:  all listing information per MLS, and current as of posting date.  Information subject to change.  Stanton Homes does not make claims to ownership of  any lot listings, but can work with homebuyers to purchase available lots and build.  Home plans to be approved on an individual basis, subject to neighborhood restrictive covenants and lot restrictions.  Ask for further information regarding any community, lot or floor plan.  Photos represent typical homes and details of each neighborhood, to help highlight different options available in the Raleigh/Triangle area.  No claim of ownership is made to homes or land pictured.  

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