Buyers finally think it is safe to go back into the water or buying pool
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- When the financial crisis hit renting became safe and affordable and housing suffered as no one knew when prices would stop dropping. Now that buyers believe the market has stabilized they are looking for homes to fit their family needs.
- Very low inventory.
- Since the crisis, very little new product has been introduced to the market and with the economy not completely healed many others cannot afford to move making very few properties to choose from by groves of buyers.
- Record low interest rates.
- Interest rates have never been this low for such a long time and buyers and seizing the moment and breaking housing price records at the same time. Cheaper money means more money the banks will allow the buyer to borrow.
- Less foreclosures hitting market.
- Many of the foreclosures clogging the real estate pipes have been sold at foreclosure or short sales so less properties are on the market for sale.
- US real estate is best investment in world.
- The stock exchanges around the world are shaky and bonds are not paying dividends so the best investment in the world is United States real estate. So Americans finally getting into the buying groove are competing with foreigners for the same land boosting prices.
FULL ARTICLE: http://www.usatoday.com/story/money/business/2013/04/16/housing-starts-march/2087107/.
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