Every major price index points to a housing market that has hit bottom and is moving in a positive direction. After thirty months of declining values, home prices appear to be stabilizing or appreciating in nearly every U.S. market. In August of 2010, the median home price was $182,600, amounting to an 11 percent increase over the low that was reached in February of 2010 at $164,000.
Locally, our housing market has been experiencing declining values for 5 years! MA was one of the first states to experience the shift in the market.
Using the same time frame that we used on the national level, in August of 2010 in Middlesex County, the median house price was $430,000.
That amounted to a 13 percent increase over February 2010 at $375,000.
Staying on the fence and waiting for prices to drip further is over.
Staying on the fence and hoping interest rates won't go up will only decrease your buying power.
After reading these statistics, what will keep you from buying a home this spring?