America’s real estate markets continue on a path of gradual recovery, recent data show. During the summer average home prices were picking up across the U.S., states the National Association of Realtors (NAR).
Increased interest from buyers is driving up values, explains NAR’s chief economist. In some markets buyers must offer more than the asking price to complete a purchase.
Buyers aren’t just responding to excellent market conditions. Many have real life needs – such as a new job or growing family – which make it necessary for them to find a different place to live.
Homeowners looking to move up now can receive a very-competitive price on their residence. And they can rely on today’s terrific rates to give them affordable payments on a home which better suits them.
READY TO SHOP
A low supply of houses for sale means it’s helpful to obtain loan pre-approval before shopping. You then can make a firm offer when you spot the right property.
Home sales have been on an upward trend since 2010. Purchases have consistently outpaced their monthly totals from the previous year, according to NAR.
A deep desire by consumers to own their house is a key to our ongoing real estate recovery. One recent survey of renters found that 75 percent said owning a home is a major life goal for them.