For the last 5 years as an Encinitas Realtor I have seen home values fall or fail to make any gains; so as an Encinitas Realtor it made me extremely optimistic to see the report that home values have risen for the first time in 5 years.
Does this mean that the economy and housing market are perfect and fully recovered? Of course not, but home values have seen their first annual increase since 2007 and that is news to be hopeful about.
The news that home values have risen 0.2% year-over-year in the second quarter is a part of a string of positive news that has been reported about the housing market making a comeback. There has been a lot of news that I as an Encinitas real estate agent have reported, so let’s do a quick recap:
- Home values have risen for the first time in 5 years
- Homebuilder confidence has seen its highest gains in a decade
- Housing starts for June 2012 were the highest in 4 years
- Inventory on homes has evened out to normal levels of 5 to 6 months
- The percentage of homes that sit vacant are at their lowest levels since 2006.
Add all of this to the fact that Freddie Mac just recently announced that average 30-year fixed mortgage rates have fallen to a new record low of 3.49% and, while it may make me sound like a broken record, I have to point out that its a great time to buy or at least look for homes for sale in Encinitas.
If all of this news has you encouraged to look for Encinitas homes for sale please contact me about finding the one that is right for you.