Pay Attention To The Market

Dated: 12/21/2012

Views: 841

Is now the time to buy? Home prices are on the rise and potential buyers may look back and regret not taking advantage of today's low rates and good affordability, Hovnanian CEO Ara Hovnanian said yesterday.  We're at historic low rates, the home building executive said. Prices have been adjusted to levels that we haven't seen in six or seven years. It's a perfect combination.  But home buyers who can qualify for a mortgage will want to act soon in order to take advantage of this combination of affordability and rock-bottom rates because prices are rising. On its quarterly conference call, Hovnanian announced that it hiked prices in 60% of its communities this year.

Prices are finally starting to increase after a long decline, Hovnanian said.  Everyone will look back five years from now, that hasn't bought a house and say, 'What was I thinking?' he added.  Boomerang buyers are also helping to support the housing recovery. These are buyers who went through foreclosure but are now looking to get back into the market.  It has been common in the past to see the months of January and February being the slower months in the Real Estate market for buyers and sellers.  This would be a great opportunity to get out there after the Holidays and find the perfect home for yourself before it gets sold.
Happy Holidays and Stay Safe!!

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