The return of the housing market in the U.S.
Posted on Wednesday, June 26, 2013 at 9:20:11 AM
The housing market is booming, and we have barely reached the halfway point of 2013. With an increase in property, prices, and residential financing, home sales are increasing with no signs of slowing down just yet. Several housing markets across America are doing well, even ones hit hard by the recession in the mid-2000s.
One market to show great turnaround has been Las Vegas, which saw home prices sink after the bubble burst. According to a Forbes report, prices in the city plummeted nearly 60 percent following the housing market collapse. An overcorrection to the change in Las Vegas has resulted in a buyer's market, with low home prices and a good supply and demand. Many properties are being converted into rentals, the report said.
An S&P/Case-Schiller home price indices adds that the average home price in Las Vegas reached $108,360 for March.
Another strong indication to housing market revival is rising home prices nationwide, according to a report by Bloomberg. Home prices are actually rising faster than predicted, illustrating buyer's growing confidence in the market, the report stated.
With the stabilizing housing market, residential financing is less of risk now than it has been in years. Prospective home buyers can look at the housing market with confidence.