SIGNS OF MARKET THAWING

December 23, 2009

Like those ice cubes in your tea, the frozen housing market appears to be melting a bit this summer.  As more buyers are finding the current historically low interest rates, stabilizing home prices and tax credit incentives irresistible, home sales have steadily increased, according to a report from the National Association of Home Builders.

            “Today’s market offers an incredible opportunity with the unprecedented combination of a 40-year low in mortgage interest rates, prices returning to normal levels in many markets, and limited-time tax incentives,” said Joe Robson, NAHB’s chairman. 

            Public optimism about the housing market is on the rise.  A Gallop Poll survey found that 71 percent of Americans feel now is a “good time” to buy a home.  That reflects an 18 point increase from a year ago, and the highest level in four years. 

An increasing number of prospective home buyers are deciding this is a strategic time to climb off the fence and take action.  More buyers are visiting real estate websites to get a current perspective of what homes are for sale, and are contacting REALTORS® to help them find and purchase a home.

For professional advice on all aspects of buying or selling real estate, please contact me at aross@miamirealestate.com or 305-960-2575, or come by the office at 355 Alhambra Circle, 9th Floor,  in Coral Gables.