America’s unemployment rate should fall this year, according to recent forecasts. More job openings will allow our economy to grow faster in 2014 than it did last year.
However, homebuyers will find mortgage rates have moved higher by the end of 2014. In coming months the Federal Reserve will cut back on measures it has taken to stabilize the economy in recent years.
Yet rates still will remain at historically low levels. Home builders are responding by putting up new units to meet the demand – construction is expected to go up by around 25 percent this year.
Buying real estate is a long-term commitment, and you shouldn’t let current conditions determine your actions. But it helps to know that today’s market is healthier than it’s been in years – and that affordable purchase opportunities continue to be available.
America’s longer-term outlook is looking up, as well. Manufacturing is reviving and car sales are higher.
Lower energy costs due to resource discoveries are helping both consumers and companies save money every day. If you also have an upbeat outlook on our future, it makes sense to seriously consider buying real estate soon.