It’s true and I’m sure you’ve read all the newspaper articles and reports! It’s happening here also! We are seeing multiple offers within the first week a home is listed for sale. Buyers are seeing the opportunities, while rates are low and home prices are low. Foreclosed homes are fewer on the market. If the trend continues, then our home values will go up! Quoting:
The housing market is “on a sustained growth path,” according to the latest economic outlook by Fannie Mae’s Economic & Strategic Research Group.
“One of the key developments for the housing market last year was the general consensus that home prices, on a national basis, bottomed earlier in the year and continued to build momentum, exhibiting robust year-over-year gains unseen since the housing boom,” according to the report.
Housing inventories are at the lowest since December 1994 and fewer distressed homes have helped to lift home prices!
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