Some good signs that the real estate market is turning around within the dim reports. The economist say:
- Mortgage rates are at historic lows. Long-term mortgage rates last Thursday were reported at the lowest level in the 50 years they’ve been recorded 4.96%
- Households are growing. The Echo boomers – children of the baby boomers – are getting ready to buy homes, ready to make up a big demographic of buyers, which will lead to a higher number of homes being purchased.
- Housing prices have fallen and affordability is at its best levels since 1970.