Over the last couple of years, one question has been floating around when it comes to real estate, “is now the best time to invest?”
The answer to this question has seemed to fluctuate with real estate market related news and reports. For example, if there’s a small rise in home prices or a moderate dip in the foreclosure rate, many media outlets start to scream about a “recovering real estate market.”
On the other hand, when home prices start to fall and statistics of a high foreclosure rate and inventory are being reported, then people immediately start to ask whether or not the real estate market has “hit rock bottom.”
These questions, although understandable, have been incredibly gun-shy with very little evidence supporting either claim—until recently.
The Current Real Estate Market
Over the last few weeks, there have been various stories and reports that have indicated a truly recovering real estate market. For example, home prices are increasing and there are further predictions of higher home prices by the spring of 2013.
Similarly, other reports show how foreclosure rates are falling in many areas throughout the country. For example, Utah has recently experienced a significant decrease in the state’s overall foreclosure rate.
Despite a report that showed that the national foreclosure rate increased in July 6% when compared to July of 2011, new home construction is picking up and home prices are rising while the foreclosure rate in many areas throughout the country are falling.
Is Real Estate Market Recovery Here?
The quick answer to this question is absolutely not. We still have a long way to go before things return to “normal.”
However, most people are in agreement that we are finally on the road toward real estate market recovery. This renewed confidence in the real estate market has inspired investors and potential home-owners alike to start taking advantage of the discounted home prices while they are still around.
With the real estate market progressing toward recovery and home prices starting to climb throughout much of the country, now is one of the best times to buy real estate.
Investor or potential home-owner? Here’s your chance! Now is the time to find the best discounted properties on the market while home prices and interest rates are still low.