Home Buying Trends and Mortgage Rates

Many areas of the country are showing signs of life in terms of pricing. Further, rates are still very reasonable and expected to stay lower for the foreseeable future. Of course all real estate is local. Many areas are improving more than 10% annually and others may take years to return to pre-resession levels.

Pricing is mostly a function of supply and demand. As inventory drops prices rise. However, many areas have so much supply prices will remain low for years to come.

Credit (and lack of same) also influences home buying. I am scheduled to teach a credit class at Tri-C on April 24th at 7:PM at the Eastern campus of Cuyahoga Community College.

Contact me for info on attending.