With rents continuing to rise, and they are now at a seven year high, it makes sense to buy a home. This year both Fannie Mae and Freddie Mac created programs that would allow first time home buyers to purchase with only 3 per cent down! As interest rates are historically low, and home values continue to moderately increase, it is a great time to buy!
Unemployment has significantly dropped, and the job market is robust. As the economy continues to grow stronger, confidence in the potential home buyer grows. There is broader optimism to take the plunge and buy a home.
Home prices continue to rise nationally, indicating that the bad times are behind us! With home prices stabilizing , interest rates continuing to stay low, and housing affordability continuing, home ownership becomes a goal that many now want to obtain.