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Health & Fitness

Why More Americans Are Confident About Buying In Today's Market

In Fannie Mae’s January 2014 survey three interesting facts surfaced:

First, those who thought it would be easy to get a home mortgage today, increased from 47% a year ago to 52%.

 

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Secondly, 70% of those who responded would buy if they were going to move.

 

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Finally, 44% say that they expect their financial situation to improve over the next 12 months.

What we are seeing is that more and more Americans are confident about buying in today’s market? This confidence isn’t just driven by a desire to own a home, but by projections for 2014. Home prices and mortgage prices are projected to increase in 2014. Savvy home buyers have taken notice and want to take advantage of current home values and interest rates.

First-Time Home Buyers Ready to Enter the Market

We’re finding first time home buyers to be more confident about our current housing market.

A housing confidence index by the real estate website Zillow shows more than 4 million first-time homebuyers want to enter the housing market in 2014. – 8NewsNow.com

Why the Optimism?

Many point to a continued recovery of the national economy expecting job creation in 2014 to be stronger than in 2013. Whether you feel there has been a big improvement or a slight improvement, the job market has improved.

This is yet one more reason that American’s are becoming more confident about buying in today’s market. They are seeing prices that are still affordable, interest rates that, though rising, continue to be low, and a job market that seems to be stronger than a year ago.

Therefore, many prospective home buyers feel that they can place more confidence in today’s housing market.

Are you ready to talk about purchasing a home in 2014? We can talk about the Orange County housing market and how it might figure into your plans to purchase a home.

 

 

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