Recent reports from many institutions are showing that now is the perfect time to purchase Encinitas real estate. Encinitas real estate, as well as real estate around the country, continues to stabilize and increase in value. Here are the results of some recent studies and reports that show how the housing market is improving.
Home loan rates continue to stay at historic lows, with weak economic reports and bailouts in Europe increasing the purchase of U.S. bonds as overseas investors continue to fell that their money is secure in our bonds, which leads to continued low home loan rates.
Harvard University’s Joint Center for Housing Studies recently released its “State of the Nation’s Housing” report, the findings of which are summarized here:
- Mortgage payments compare more favorably to rent prices than any time since the 1970s
- Existing home sales were 5.2% above the previous year’s levels for the first quarter of this year, with sales of newly constructed homes a solid 16.7 % higher when compared for first quarter of 2011 to first quarter of 2012
- Inventory has shrunk by 23% over the last year, leaving supply of homes for sale at it’s lowest since 2006
If employment rates can continue to increase or at least stabilize, many believe that the housing market recovery is a reality in 2012. Now is the time to take advantage of historic low mortgage rates and low inventory before the market fully recovers and rates go back to normal levels. Take it from an Encinitas real estate agent; it’s the perfect time to buy an Encinitas home.