Although the economy is soft and consumer confidence may be low, new data from the National Association of REALTORS® shows positive signs for the future. If you’ve been sitting on the fence, waiting until the market Is “just right” to buy a home, take into consideration these 10 key facts to understand about today’s market:
1. The 30-year mortgage rate is at generational lows. 2. The private sector is finally creating some jobs.
3. The national median-home price is stabilizing.
4. Though it grows slowly, the economy is currently growing.
5. Consumer confidence remains low, though clearly off bottom.
6. Other home-price measurements also are showing price stabilization.
7. Home price-to-income ratios have returned to fundamentally justifiable levels.
8. Economists expect price increases in upcoming years.
9. Delinquencies are high but recent loan originations are performing well.
10. The long-term path to self reliance may be helped from long-term housing-wealth gains.
To see the statistics behind these facts, download the full NAR research report, Market Facts in Uncertain Times (PPT: 1.39MB)
To share this report, download the PDF (1.46MB)