Has the U.S. housing market finally reached rock bottom? There’s new data out this quarter that suggests as much according to Zillow, a national real estate tracking website. The numbers show that the average value of a home in the U.S. rose 0.2% between the second quarter of 2011 and the second quarter of 2012, a period that wrapped up June 30th. The rise marks the first time housing values have climbed from year to year since the market started slipping in 2007. On top of the annual increase, housing values have also seen increases in the past five months in a row.
An Associated Press article on MSN Money confirms: “The U.S. housing recovery is for real,” said Sal Guatieri, an economist at BMO Capital Markets, in a note to clients. “Great affordability, pent-up demand and strong investor interest in rental units are driving the market.” The article states that this recent jump in home sales puts our numbers at the highest level since May 2010.
Are you looking to buy a house? Trying to sell your home? Debating whether to rent or to buy? Here are some other posts that could help you navigate the real estate market:
How Do You Know When You’re Ready to Buy a Home? [Money Under 30]
Blogger David Weliver turns his site over to guest writer Brandon Turner, who muses, “It’s not about ‘when’ but ‘who.’ Who are you? What is your position in life?” Before you head out the door to buy a home, he’s got five questions you need to ask yourself first.
SUP Fitness: Taking Your Workout to the Water [Tower Paddle Boards]
Every year people decide to lose weight. With that goal comes the cost of joining a gym or equipping a home gym. Cost aside, most people who make this goal fail to succeed because having the equipment available isn’t enough. The people who do succeed are those who enjoy their workout. This new workout trend is helping people do just that.
Would You Sell or Rent? [Studenomics]
MD has a problem. The “best tenant possible” is moving out at the end of the month, leaving MD to wonder whether he should search for someone else to rent his condo to, or sell it. What would you do if you were in his position?
Home Improvement Projects to Save Money [The College Investor]
The College Investor is helping you maximize the money in your home by tackling some DIY projects. But before you head to Home Depot, you’ll want to hear which projects make his “do” and “don’t” lists.
The Crazy Truth About PMI [Joe Taxpayer]
Joe’s doing the math nobody wants to do: calculating exactly how much – and for how long – you’ll be paying private mortgage insurance on your home loan if you fail to reach that crucial 20% down payment level. It’s an eye-opening arithmetic lesson that all prospective home buyers should read.
Selling to Downsize [Move to Portugal]
“I’m just concentrating on getting our home ready to sell – if it doesn’t sell then at least it’ll be ready to rent out,” says Laura over at Move to Portugal. She and her family are looking to downsize and move abroad. I doubt few homeowners put this much effort into preparing their home for market.
Should We Buy a House on the Beach? [Life and My Finances]
Derek is working toward a goal just about all of us have considered at one point or another: selling his current home and buying a house on the beach. He’s got his pros and cons, but what he really wants is your input.