Existing-home sales are on the rise, according to the National Association of Realtors®. Buyers, reacting to improved affordability, quickened the pace of sales across the nation. Lawrence Yun, NAR chief economist, reports that favorable conditions are at record highs. "The relationship recently between mortgage interest rates, home prices and family income has been the most favorable on record for buying a home since we started measuring in 1970," he says.
Will the market continue to grow despite the recent rise in interest rates? Yun is positive about the coming year. "Continuing gains in home sales are encouraging, and the positive impact of steady job creation will more than trump some negative impact from a modest rise in mortgage interest rates, which remain historically favorable," he says.
Read the Full Story
Realtytimes.com
No comments:
Post a Comment