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Positive Trends
September 23rd, 2014 11:46 AM

The chief economist for the National Association of Realtors has very positive comments concerning the real estate market:

"Existing home sales are picking up steam and have risen for four straight months.  Jobs have grown and mortgage rates have refused to rise, keeping the recovery intact.

The inventory shortage is also improving, with July being the highest in two years.  Buyers will now find more options before choosing a home to purchase.  New-home construction inventory is rising as groundbreakings increase and there are more spec homes available.

All-cash investors are stepping away giving first-time buyers a better chance to get into the market.   Distressed property sales - REOs and Short Sales - are at their lowest levels since 2008.   In addition, the number of seriously delinquent mortgages is down considerably. 

All in all, the housing market is steadily improving, and growth potential remains strong thanks to continuing pent-up demand.  For these reasons, there should be continued steady growth for the next four to five years."


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Posted by Barbara Doeringer on September 23rd, 2014 11:46 AMPost a Comment

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