Home Prices Wont Be Low For Long

Home Prices Wont Be Low For Long

Thinking of purchasing a home soon? Now is never a better time.  Housing prices have never been so low. However, according to housing authorities, this year will be the last chance to take advantage of these deals of a poor housing market.

Home prices are down 34% nationally since 2006 and mortgage rates at historic lows, making homes  more affordable -- but it won't stay this way for much longer.

Stuart Hoffman, chief economist for PNC Financial Services, says there are a number of elements that will help strengthen and boost the housing market.  Those elements include a decline in the number of foreclosures and continued job growth, as well as, homebuyers having better access to mortgages as they get their finances in order and improve their credit scores.

Prices will not increase sky high all at one time. But the price will increase.

For more information read CNNMoney.

Jeremy Flax Headshot
Phone: 615-582-0909
Dated: May 14th 2012
Views: 1,865
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1 Response

  1. Mike Dotson

    You are exactly right. Once people realize the market is recovering, and price begin to shift upwards, many buyers will wish they had bought a house sooner. Waiting can be costly.


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