Why You Should Buy Now
Perhaps signaling a significant thaw in the chilly U.S. economic forecast, a cadre of economic experts and real estate professionals are saying the outlook for the housing market industry is positive. And, the housing market is heating up in a big way.
Much of the housing market optimism can be attributed to continuing near record low interest rates and rising confidence in the housing industry. In March, Kiplinger’s Economic Outlook predicted a whopping jump of 36 percent in new home sales in 2013. Overwhelmingly, 2013 is shaping up to be a great time to purchase a new home. If the American dream of home ownership is on your agenda, Pardee Homes may be able to help.
If the last few years created some unresolved credit issues for you, we can help. Pardee Homes’ HomewardBound program often can help homebuyers enhance or repair their credit so they can get into a new home. Haven’t been able to get into a new home because of your current home? When you buy a new Pardee home, you don’t have to wait to sell your current home before you buy the one you really want. When you buy a new Pardee home, Smart Move Advantage®, an independent company, will rent existing homes that qualify, for up to three years!
There are a number of reasons to consider a new home purchase now.
Interest rates are at a 65-year low and, while expected to increase slightly, will remain at near record lows during the first six months of 2013 and then rise toward the end of 2013, but still remain below 4 percent, according to a Freddie Mac housing market outlook, reported in Real Estate Industry News.
Housing numbers are headed up. According to the Freddie Mac report, home prices are expected to
rise 2.5 percent to 3 percent in 2013, with location affecting those numbers.
Overall demand will increase as formation of new households will outpace new home construction.
Vacancy rates are expected to hit levels not seen for about a decade for both apartments and homes for sale.
Confidence in the market is increasing. The percentage of Americans who say owning a home is an integral part of the American dream hit 79 percent, its highest level in three years, according to a CNBC All-America Economic Survey. The percentage who say it is better to own than rent grew by four points to 69 percent.
Real estate professionals expect more home sales and higher prices than in 2012. A survey by Market Leader found 84 percent of real estate professionals expect a much better market, a 28 percent increase in confidence in the market from a year ago.
Where to Start?
Our New Home Specialists can help you find the neighborhood that’s right for you.