| What you Need to Know About Today's Real Estate Market
Now is a good time to buy--Why you may ask?
Homes Are Selling – Over 7 million new and existing homes were sold in
each of the past 3 years. Total home sales are expected to exceed 7 million in 2006
for the 4th consecutive year .
Mortgage Rates Are At Historical Lows – Mortgage rates have trended down during the last 6 months. As of Oct. 19, the average 30-year fixed mortgage rate is 6.36%.
Selection Is Excellent -With more available properties on the market, finding just the right home has never been easier.
Demand Will Continue -One million new households have formed each year, on average, since 2000. The number of U.S. households is expected to grow by 14.6 million during the next 10 years. Strong household growth together with rising income will likely translate into increased demand for housing.
Home Sale Prices Have Increased- Median existing U.S. home sale prices have increased on average 6.5% each year from 1972 through 2005.
To learn more about the home buying and selling opportunities in the Mason, Oceana and Manistee county area, contact me, a local real estate professional. I work on the values of Integrity, honesty and sincerity. I know your time is precious, let me go to work for you whether buying or selling. The market is still strong in West Michigan!
I hope to work for you soon!
Realtor®
The above facts were provided by
©2006 Realogy Corporation. All Rights Reserved. Each office is independently owned and operated except offices owned and operated by NRT Incorporated.
National Association of Realtors® and U.S. Census Bureau data.
Primary Mortgage Market Survey® data provided by Freddie Mac. Based on an average
30-year fixed mortgage rate with an average 0.5 point.
Joint Center for Housing Studies of Harvard University – The State of the
Nation’s Housing 2006.
Calculation based on compound annual growth rate of median home sale price data from
1972-2005 provided by National Association of Realtors®. |