The housing market has made a strong recovery, not only in sales and prices, but also in the confidence of consumers and experts as an investment. In a New York Times editorial entitled, “Homeownership and Wealth Creation” they explain: “Homeownership long has been central to Americans’ ability to amass wealth; even with the substantial decline in [...]
Some Highlights: Existing Home Sales are up 10.3% year-over-year across the country. Sales rose to an annual rate of 5.59 million marking the 10th month in a row of year-over-year gains Prices are up 5.6% year-over-year in the U.S. to a median price of $234,000 Marked the 41st consecutive month of year-over year price gains.
According to the recently released BMO Harris Bank Home Buying Report, 52% of Americans say they are likely to buy a home in the next five years. Americans surveyed for the report said they would be willing to pay an average of $296,000 for a home and would average a 21% down payment. The report also [...]
Some experts are advising that first time and move-up buyers wait until they save up 20% before they move forward with their decision to purchase a home. One of the main reasons they suggest waiting is that a buyer must purchase private mortgage insurance if they have less than the 20%. That increases the monthly payment [...]
There are many benefits to homeownership. One of the top ones is being able to protect yourself from rising rents and lock in your housing cost for the life of your mortgage. The National Association of Realtors (NAR) released their findings of a study in which they studied “income growth, housing costs and changes in [...]