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Our Homes Are Finally Selling Faster And At A Higher Price

By
Real Estate Agent with Keller Williams Realty of Brevard

The housing market is finally in recovery mode. The National Association of Realtors (NAR) reports existing home prices have been rising for 20 straight months and existing-home sales are at the highest pace since November 2009. 

Home prices are seeing their strongest gains since 2006.  The combination of inventory shortages and increasing demand for new and existing homes has helped home values to rise up to the highest level in five years. Keep in mind that foreclosure sales, which sell at a discount are down. This has also helped boost home prices.

Many of the underwater homes are not underwater anymore. Sellers are in a more favorable position and calling the shots. Buyers are making full price offers to get the home they want. Multiple offers are also becoming common now. Even though mortgage rates have risen they are still attractive. This is in part due to the Feds Bond purchase program known as Quantitative Easing. It is predicted that the housing recovery is here to stay at least for the next five or so years.

Bottom line: Interest rates remain attractive and now is a great time to purchase a home.

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Questions about the neighborhood, the community, the market?  I'm always happy to help - Give me a call!

 

Serving Suntree, Viera, Rockledge, Cape Canaveral, Merritt Island, West Melbourne, Melbourne, Cocoa, Cocoa Beach, Satellite Beach, Indian Harbour Beach, Indialantic, Melbourne Beach, Palm Bay, Sebastian

 

About the Author...This article was provided by, Rekha Vyas a Nationally recognized Realtor, Certified Residential Specialist and Graduate of the Realtor Institute. Rekha can be reached via e-mail at RekhaVyas1@gmail.com by cell phone or text message at 321-759-4409. Rekha has helped many people buy and sell their home.  For real estate and homes on the Space Coast of Florida see www.RekhaVyasRealtor.com. If you need to Short Sale your Brevard county home please contact me for more information.

 

           

Show All Comments Sort:
Andrea Bedard
Thompson Company, REALTORS® 240.593.2860 - Silver Spring, MD
Fluent in Real Estate & German, M.A. ABR ASP CIPS

We transitioned into a sellers market in my area a few months ago Rekha. Low inventory and increased buyer traffic means less time on the market, multiple offer situations and increased prices. And it sounds like more and more parts of the country are experiencing much of the same.

I certainly hope that the recovery is here to stay!

Jun 21, 2013 12:49 PM
Rekha Vyas
Keller Williams Realty of Brevard - Melbourne, FL

Andrea, I too hope the recovery is here to stay. It is good for the home owners who have invested in home ownership. 

Jun 21, 2013 02:30 PM