Is the Housing Market Getting Better?An article posted on MSN.com poses the question about whether or not the real estate market is healing and getting better. The article states the there are lower home inventories in specific neighborhoods and that that creates ‘bidding wars’. However, the article also points out that because job security and not being able to pay the mortgage could also raise the foreclosure percentage. After a four year slump, the housing market seems to have gotten better, but because of the job market, home prices can drop even more.
As mentioned before, there are less homes for sale on the market and the inventory has reached even lower levels in places like Boston and Sacramento, California. But ‘fundamental market drivers look strong’ in places like Raleigh (where our friends All My Sons of Raleigh have a moving company office), Dallas, Houston and Washington D.C (where our friends the local Maryland movers work). In locations like Miami, Las Vegas, Phoenix, Orlando, Jacksonville (where All My Sons Moving and Storage has another office) and Tampa, the real estate market doesn’t look as good. These markets were hit amongst the worst, they had the highest rates of defaulting borrowers among 28 others.
This Spring should be a very busy season for home shopping, it’s actually the busiest time of year, when most people by their homes. This also means that the San Antonio movers will be very busy soon, so if you’re planning on moving, don’t forget to get a free moving quote online and get your moving day appointment setup with All My Sons of San Antonio as soon as possible. This way your guaranteed a moving day that’s best for you. Our moving and storage company is licensed and insures and is backed by four generations of moving experience, so you’ll be well taken care of.
The job situation and mortgage problems will determine the housing market. If there’s no job growth, demand will be hard to sustain leading to mortgage defaults leading to foreclosures. People are still behind on their payments. According to LPS Applied Analytics, in the Miami-Fort Lauderdale, Florida area, 28% of borrowers are late on their payments compared with 8.6% in the Minneapolis-St-Paul area and 13.2% in the entire state.
Home prices are stabilizing and some houses are selling even more than for the asking price set by foreclosing lenders. The tax credit is also helping people to purchase homes and also fueling the bidding wars.
If you’re in the process of purchasing a home in the San Antonio, Texas area, don’t forget to call your movers of choice to book your moving day appointment.