Buyers gaining Confidence throughout the US

Research gathered by NAR and Chief Economist of the National Association of REALTORS, Lawrence Yun explains the current state of our industry. “After four years of declines, homes sales on a national basis finally appear to be turning around.” Pending Sales and Closed Sales are both up for several straight months. First-time home buyers have taken advantage of the highly discounted homes across our market. Another key component to buyer confidence is the relationship between home prices and mortgage payments compared to income levels. In many markets the relationship between these three are at a comfortable level, below historic levels.

 

Other information that is really important; seller traffic is down from a year ago, while six-month expectations, current conditions, and buyer traffic is up. Many are saying, as the Today show noted earlier today, that prices seem to have hit the bottom and in many areas is starting to climb. Charlotte has seen these numbers climb for several months now and most of the buyers surveyed have stated they believe the market prices have started to climb again.

 

 

Marc White

Marketing Specialist, ABR, GRI, ePro

Broker/REALTOR

Direct 828-406-2134

Marc@CedarFallsRealty.com