Looking for the latest news on real estate in Encinitas? Look no further than the Encinitas Realtor blog. Today your Encinitas Realtor will be looking at the significant decrease in mortgage delinquencies and what that means for homes for sale in Encinitas.
California was one of the states that was hit hardest by the collapse of the subprime housing bubble, but for the fourth-quarter of 2012 the mortgage delinquency rate was down 24% from its third-quarter 2012 levels.
5.56% (the current mortgage delinquency rate in California) is still a long way to go from the normal rate of 1% to 2%, but significant improvements are being made and mortgage delinquencies nationwide are seeing their lowest levels since 2008.
So what does this mean for homes for sale in Encinitas? Mortgage delinquency rates are used as not only a key indicator in the state of the housing market, but also to measure the status of the broader economy. That more homeowners can afford their homes indicates that the market can stabilize, making the purchase of housing more attractive to potential buyers that may be on the fence about purchasing.
Between mortgage delinquency rates dropping, mortgage rates still hovering around record lows, the decline in foreclosure rates, and shrinking inventory, the market for homes for sale in Encinitas is attractive to buyers and sellers.
If you are looking to buy or sell a home in Encinitas, contact your Encinitas real estate agent Linda Moore at 760-310-0234 today.