Housing markets appear to be firming around the country, according to recent reports. Annual rates of change for home prices are improving in most areas of the country, states the S&P/Case-Shiller Home Price Indices.
“Housing prices have stabilized,” notes Beacon Economics. Recession risks also are fading, Beacon adds.
We can expect faster economic growth as we move into 2012, forecasts Beacon. Hiring will pick up as growth improves next year.
Economic growth should move from a 1.6 percent increase this year to 2.3 in 2012, predicts the National Association of Realtors (NAR). Joblessness will fall below nine percent as a result.
Better economic conditions will encourage both home sales and property prices to increase over the next twelve months, adds NAR.
Many household have seen their lifestyle needs change, and are ready to move into a new home. Yet they hesitate, aware that purchasing real estate is harder than it was a few years ago.
Yet it’s clear that now is a great time to consider making a purchase. Families still want to own homes, so the long-term outlook for real estate price increases is positive.
Mortgage rates also are around their all-time lows, which reduces your monthly payments on a terrific new residence.
You need to work with qualified professionals that you trust to gain the maximum benefit from current market conditions. But in a few years you’ll look back on this time as an exciting moment when you made a big decision.