According to a recent article in the Wall Street Journal, despite the gloom you hear, there are growing indications that it is a good time to buy.
Mortgage rates, which fell to 4.55% for the week ending June 2, according to Freddie Mac, are near 50-year lows. Homes have become more affordable than they have been in years: According to Moody’s Analytics, the ratio of home prices to income is now 20.9% lower than the 15-year average through 2010, and 12.5% lower than the 1989-2004 average. A historic glut of homes, meanwhile, has created a buyer’s market: There were about 15 million vacant homes in the U.S. last year, according to John Burns Real Estate ConsultingInc.—some 3.1 million more than normal.
Read the article from the Wall Street Journal: “Is It Time to Buy a Home?”
Latest posts by Renee West (see all)
- Live on the secluded Promontory bay in the Newport Harbor. Listed for $4,795,000. Generous sunny patio and your own private docks!!! - May 25, 2019
- This turnkey, Lido Village, Bayfront home features a private 100’ boat slip, one of the largest boat accommodations in Newport Harbor. Contact Renee for your private showing- email@example.com. - April 18, 2019
- European Inspired Villa in Dana Point!Offered at $7,333,333.00. Contact Renee West : firstname.lastname@example.org your exclusive tour around the Dana Point community! - April 15, 2019