INFO THAT HITS US WHERE WE LIVE... Following the Socratic teaching, lets examine life in the housing market. A research firm serving the mortgage industry reported that national home prices are growing slowly but staying in line with inflation adjusted long-run averages. They say this shows prices have normalized and future growth rates will look like historical ones, up between 3% and 5% per year. The firms vp of research and analytics added, Nationally, we dont see evidence of a price bubble forming again. Double digit gains over the last year, while similar to rates of growth in the run-up to the bubble, are off a much lower price floor. Good point. Low inventory has been a challenge in some markets, so it was encouraging to see a national real estate site report inventory up in 22 of its 35 largest metros. The National Association of Realtors (NAR) put inventory up 7.6% year-over-year in January. All this is the result of higher home prices, yet more inventory should mean slower price increases. Finally, realtor revealed its number of for-sale listings was up 3.1% year-over-year in January. The sites president commented, this early rise in inventory is a welcome trend. Basically, analysts expect less-frenzied conditions for buyers and higher sales volumes in the months ahead.
Posted on: Mon, 10 Mar 2014 13:47:28 +0000
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