5 Signs Real Estate Recovery is Near – David Stevens, President and CEO of the Mortgage Bankers Association, is bullish on homeownership. According to an interview by Inman news:
Stevens believes there is good signs on the real estate front and here are 5 signs of recovery:
1. Markets are stabilizing: the real delinquency rate is down year over year from 10 percent to 8.5 percent.
2. Many markets are experiencing real home-price growth: price declines are not a national problem. “The fundamentals are better than ever.” In fact, if you remove the foreclosure properties from the equation, non- distressed properties have actually experienced an increase in prices.
3. The best time ever to buy: Extremely low interest rates insure lowest possible home ownership costs. In the unlikely event prices should dip from the lows of today, the interest rates we pay today will insure cost of ownership will be as low as we have seen in decades.
4. The coming home shortage: Generation Y, which is estimated to be approximately 80 million, or 25 percent of the U.S. population, is entering their prime time for starting their careers, their families, and for buying a home. Additionally there is a predicted population growth of 130 million people in just 40 years.
5. Getting there: According to Stevens, real estate is now at bargain levels that we will never see again in our lifetimes. If there were ever a time to buy a home, that time is now. Read more about the signs of real estate recovery…
This information along with Equifax report of Credit growth being up 13% is all very encouraging. It is suggested that credit growth has reached a two year high.
More encouragement is that credit cycles are turning and loans are seeing higher volumes versus the previous year for everything from credit cards to consumer finance.
If you would like to find out why I think this is one of the best times to buy real estate (possibly in my lifetime), check out our article Invest in Economically Sound Locations or give me a call today! 941-718-7761