Realtors® See Buyers Returning to Market
Historically high housing affordability and low mortgage interest rates,
combined with buyer opportunities in the distressed sales market, have
increased home sales in many areas of the country.
“There has never been a better time to buy,” said National Association of
Realtors® Chief Economist Lawrence Yun, commenting on a convergence of
favourable buying conditions.
“Housing affordability is at an all-time high, mortgage rates are
historically low, and interest rates are the lowest they’ve been since the
days of Eisenhower,” said Yun.
Evidence of recovery is already demonstrated in California, where home sales
are rising much faster than anticipated; some areas in the state are seeing
a 70 to 80 percent increase in sales. Yun attributes this extraordinary
surge to buyers who may have been sitting on the fence but are now taking
advantage of the great opportunities for fear of being left out of current
deals in the market.
According to Yun, many first-time buyers are attracted to deeply discounted
and distressed home prices and the situation along has created an impressive
window of opportunity for potential home buyers.
Posted: 14 May 2009
Source: National Association of Realtors
Click
here for complete article
