Positive Real Estate Trends Encourage Home Buyers
According to a March 23, 2016 article in Bloomberg News, new homes sales rebounded in February mainly due to a jump in the West.
The report states that Commerce Department figures show
sales climbed 2% to a 512,000 annualized pace following a 502,000 rate in January that was stronger than previously reported. It goes on to note that residential construction is expected to remain in line with last year’s pace, and that the increasingly strong labor market of the past two years continues to encourage lower-income and first-time home buyers to get into the real estate market.
The underlying trend in housing is up, says David Berson, Chief Economist, Nationwide Insurance in Columbus Ohio, who talks in the article about the positive impact of job growth, income growth and mortgage rates on home buying trends.
Expand Your Real Estate Portfolio with an Idaho Hard Money Loan
With housing prices moving higher and the available inventory shrinking there may be no better time to consider adding rental income properties to a balanced portfolio. As an alternative to conventional lenders many investors are turning to hard money lenders such as Gregory M Russell to secure their acquisitions when a quick closing is required.