An all-time record for home affordability was established in 2012, the National Association of Realtors (NAR) reports. More average-income families than ever could afford to buy a typical home last year, explains NAR. Great mortgage rates and terrific home prices create ideal conditions for purchasing real estate. “A window of opportunity remains open for buyers,” adds NAR’s chief economist.
Many Americans have hesitated when thinking about buying or selling property in the past few years. That makes sense – in times of turmoil, staying on the sidelines can be a smart move. Yet many experts say that home values appear to have bottomed nationally, and are moving higher again. U.S. real estate markets are showing renewed health after a number of difficult years.
Read the full report here from the National Association of Realtors.