Rising Home Prices
According to real estate and financial professionals, if you are considering buying another home, sooner may be better that later. According to a recent Forbes Magazine article, house prices steadily rose every month last year and the trend is continuing.
The largest gains came in the later half of 2016 and showed a 5.61% increase nationally. Experts expect prices will continue their climb, but gains will slow. "We believe price increases will hold steady despite slowing sales growth, because homebuyer demand is stronger now than it was at the same time last year, and because we foresee a small uptick in homes for sale," says Nela Richardson, chief economist at real estate brokerage Redfin.
"With the current high consumer confidence numbers and low unemployment rate, affordability trends do not suggest an immediate reversal in home price trends," said David Blitzer, chairman of the Index Committee at S&P Dow Jones Indices.
Even if you are lightly entertaining a home purchase in the Santa Fe area, please drop us a line, we would love to show you homes. Now is a good time.
Click here to go to the Forbes Magazine site.
