What Housing Bubble?

There are many factors from mortgage rates to the baby boomer theory that fuel the housing expansion. Will the housing boom continue or will I miss out on the home values?

The National Association of Realtors reported sales of Existing Homes rose 4.5% in April, 2005 to a record seasonally adjusted annual rate of 7,180,000.  Economists had expected sales to be about 6,900,000. The inventory of unsold homes climbed 5% to 2.48 million, representing a 4.2-month supply. The median sales price rose 15.1% on a year-over-year basis to $206,000, the fastest year-over-year price gain in 25 years.

9/6/2006 Update

News on the housing market - The National Association of Realtors just released new projections for the year and stated sales of new and existing homes are expected to fall while home price appreciation is also expected to moderate. New home sales are projected to drop by about 16% to 1.08 million this year while existing home sales will fall 7.6% to 6.54 million. Median new home prices are projected to rise by only 0.2% while existing home prices are slated to grow 2.8% this year to $225,900. These new projections show what the Fed has been forecasting - an "orderly" slowdown in the housing market, but prices are still appreciating and not depreciating.

With rates still at an unprecedented all time low, why are you not buying more real estate? Realty is one of the best investments today. If you wanted to buy $200,000.00 in common stock on Wall Street, how much liquid cash would you need? That's right... $200,000.00!

Now if you wanted to buy a $200,000.00 home or investment, how much money would you need? ZERO. You could buy a home with no money down. Contact one of our mortgage advisors today to reward yourself with real estate and financial security today!