Tuesday, March 10, 2009

Good Real Estate News

Are you ready for some good real estate news? We hear all about the bad news everyday in the national news and they conveniently forget to tell the good news and believe it or not there is good news out there.

First of all, the housing affordability index is the highest it has been since they started keeping track of it in 1970. When you combine, interest rates, home prices, and median income things look good especialy for first time home buyers.

Home inventory dropped in January to the lowest number in two years and with builders holding off starting new homes it should shrink even more. And let's not forget about the $8000 tax credit for first time home buyers.

Yes, there are areas in the country that have not seen much good news and will face challenges for years to come. Lucky for us, I believe the worst may be behind us in New Bern and look forward to better days.
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