How To Shop For A Mortgage
Mortgage Library: How To Shop For A Mortgage
Why not buy now, before prices go up again
National Association of Realtors (NAR) data indicates real estate markets nationwide will see improvements this year. According to NAR’s latest forecast, existing-home sales nationally are expected in early 2008 and then rise gradually.
Lawrence Yun, NAR chief economist, indicated there is a sort of tug of war exerting itself on the market.
“On the one hand, we have a pent-up demand from the four million jobs added to our economy over the past two years of sales decline,” he said. “On the other, consumers continue to wait for additional signs of market stabilization. There are more people with financial capacity now than in 2005, but many are trying to market-time their purchase. As a result, the exact timing and the strength of a home sales recovery is a bit uncertain. A meaningful recovery in existing-home sales could occur as early as this spring, or it may be further delayed toward late 2008.”
