Frequently Asked Real Estate Questions-Ep. 35

What Are Signs That The Housing Market Is In Recovery?

The average home sale price in the Omaha area increased 4.4% in 2012, making it the highest average sold price since 2007. Renting a house is getting more expensive as well. These two points alone tell you that positive things are happening in real estate. Consumers are ready to move on and have shifted to a recovery mindset.

Last Thursday the Consumer Financial Protection Bureau released its new mortgage guidelines which are “a set of standards that protects consumers from bad loans” according to David Stevens, CEO of the Mortgage Bankers Association. These new guidelines show that the government and banks are working together to ensure a secure environment for mortgage loans. For a great summary of the new guidelines, check out CNN’s article “New Rules Aim to Make Mortgages Safer”.

2012 was a great year for Omaha area real estate. The number of homes sold was the second highest ever, with a 17% increase from 2011.

If you have thought about buying or selling in the past few years, but just did not do it, NOW is the time. Act now before rates and home prices increase. They will both increase as the market continues to recover. Give me a call today and we can chat about how to get started. 402-305-4335.