National home prices, sales numbers rise in February
Posted on Monday, March 18, 2013 at 3:14:05 PM
Consumers may be more inclined to seek out affordable residential lending in the coming months, due to repeated gains seen across the national housing market.
Significant increases in home prices and sales figures, as well as a sharp decline in inventory levels was observed last month, according to Redfin's Real-Time Price Tracker. The monthly report showed year-over-year improvement of more than 13 percent was seen in home prices and an over 2 percent rise was exhibited in home in finalized sales. Additionally, amid the bolstering numbers, inventory levels dropped by almost 32 percent in February - causing joy among sellers and concern among buyers.
Normally, the void created by rising demand and shrinking supply would be filled by new construction, but home builders recently reported a decline in confidence levels of two points, the National Association of Home Builders reported in its Wells Fargo Housing Market Index for March. Citing consumer difficulties in obtaining credit, few lots available for construction and uncertainty within the job market, home builder confidence was reportedly seen at 44 in March.
Though the recent slip may trouble some economists, confidence levels are up considerably on a yearly basis.
Those potential home buyers who have been considering residential financing may benefit from researching the opportunities offered by the trusted lending company Home Loan Investment Bank.