National Home Prices Rising! Where in The Bronx are the Most Affordable Homes?
By James Beech
Real Estate Consultant with BronxValueHomes.com and Besmatch Real Estate
May 11 2014
Corelogic a leading property information provider recently ran a report about rising home prices in the nation.
What does this mean for Bronx homeowners or people that would like to own a home in Bronx New York?
It means that if your are sitting back and waiting to make your next or first home purchase, your already going to pay on average about 11.1% more for the average home over what you would have paid last March 2013. It may seem like you have missed your chance to get a great deal? But actually you have not!
The report goes on to say
“Home prices continue to rise across the nation, but affordability, tight credit and supply concerns are becoming an increasing drag on purchase market activity. In many markets-especially major metro areas like Los Angeles, Atlanta and New York- home prices are being driven up at double-digit rates fueled by a lack of inventory and record levels of cash purchases.”
Anand Nallathambi, president and CEO of CoreLogic
There are still some great deals for someone looking to buy in Bronx New York. Check out some of these great homes for sale right now.
What’s the Big Lesson for Buyers?
Get off the sidelines! We still have not reached a point where home prices have risen all the way back to peak numbers from the market we saw about five years ago. With prices rising the longer you wait, the less house your money will buy.
Wondering how much house you can afford right now? Let us help you get an answer!
What Does This All Mean If You Are Thinking about Selling?
Many homes are getting multiple offers. We have seen large numbers of buyers coming through open houses. It’s a great time to be a seller.
BronxValueHomes.com and Besmatch Real Estate