The National Association of Realtors (NAR) recently released the results of its 10th Housing Pulse Survey, showing that perceptions of the housing market have improved. Not only do more Americans believe buying a home is a good financial decision, half of renters now say that eventually owning a home is one of their highest personal goals.
The survey was conducted through a third party company who surveyed 2,000 adults across the United States by telephoning them and asking various questions about their perception of the housing market. The last survey was conducted in 2011, so this year’s results reflect the significant changes that have occurred in the U.S. housing market since then.
Here are a few more interesting findings from the 2013 Housing Pulse Survey:
- Respondents expect to see continued improvement, as 37 percent expect real estate to increase in the year ahead.
- Sixty-eight percent of respondents said they believed now is a good time to buy a home
- Since the last survey in 2011, more renters are now thinking about purchasing a home, up from 25 percent to 36 percent, while those who say they prefer to rent dropped from 31 percent to 25 percent
To read more about the 2013 Housing Pulse Survey, check out the NAR’s official press release here.
Mortgage Rates Forecast
Currently Trending: Neutral
Interest rates on mortgages seem to be in a neutral spot for now, but volatility is likely to continue as swings in pricing rebate occur day to day, depending on news and economic releases for that day. If you’re able to qualify for a reasonable mortgage rate, it’s probably a good idea to go ahead and lock in it now, before rates can rise further. There’s no way to know for sure when or if this will happen; the best thing to do is speak with a trusted mortgage professional like Kelly Decker and his team at The Decker Group.
To receive a free rate quote on your next Texas mortgage, please call (972) 591-3097 or complete the short request form on this page and a mortgage consultant will contact you after reviewing your information.
Key Economic Events
Week of September 2
Thursday, September 5 at 8:15 am: Payroll-processing firm Automated Data Processing releases its report on the state of private-sector jobs. Analysts predict that the private sector added 184,000 jobs in August, lower than July’s figure of 200,000.
Friday, September 6 at 8:30 am: The Labor Department releases its latest jobs report at 8:30 am. The August unemployment rate is expected to remain unchanged at 7.4 percent. Analysts predict the number of jobs added to be 180,000, up from 162,000 in July.