The housing market right now

Prices should stabilize this year.  Lender’s regulation, consumer confidence, investors tapering purchases, local economics, and rising home prices have forced participants to continually adjust to a market that has been anything but stable.

imagesCA9ELC9MGenerally speaking, we see price growth, which should help boost the confidence and purchase activity from buyers on the fence. Looking at home price trends by tier, it’s apparent the impact of investor activity has been concentrated in the low price tier segment.   There is a good price growth potential and could motivate enough buyers to sustain an overall rate of home price growth consistent with historical norms.

Credit and affordability issues remain. Mortgage rates have dropped across all loan types including FHA loans, USDA loans, VA loans, and conventional loans backed by Fannie Mae and Freddie Mac, and 30-year rates are at their best levels of 2014.

 

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