The percentage of U.S. residents who say owning a home is an essential part of the American dream has hit a three-year high, reaching 79 percent, according to the CNBC-All-America Economic Survey. What’s more, the number of Americans who say it is better to own than rent grew by four points to 69 percent, according to the survey.
More Americans also believe owning a home is a better long-term investment than stocks.
“The housing numbers are all heading in the right direction,” reports Diana Olick for CNBC. “Home prices up, foreclosures down and, perhaps the most important, consumer confidence in housing is swelling.”
Still, first-time home buyers will be the “wild card” in the spring-summer home buying season, says Thomas Popik, research director for Campbell Surveys. “We see strong first-time homebuyer traffic, but it’s still not clear that the traffic will translate into increased purchases because first-time home buyers are dependent on low downpayment financing, such as FHA mortgages.”
Source: “People Are Becoming More and More Confident in Housing Market,” CNBC (April 1, 2013)
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Home Prices In Arlington Continue To Hike
The housing market in Arlington County is getting more and more expensive as potential buyers continue to have fewer homes and condos to choose from.
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Inlet Cove is near Fort Belvoir and Potomac Mills
Inlet Cove is alongside Route 1 This neighborhood of townhouses is near grocers and eateries Inlet Cove is close to Fort Belvoir, Alexandria, and Potomac Mills shops, in the city of Woodbridge Interior to these properties are multilevel Inlet Cove is serene
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Pending Home Sales on an Upswing
Pending home sales increased again in March, affirming that a surge of home sales is unfolding for the spring home buying season, according to the National Association of REALTORS®. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in March, rose 5.3 percent to 102.9 from 97.7 in February, and is 21.1…
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A Good Time to Buy a High-End Home
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Who is today’s homebuyer and why are they buying?
The National Association of Realtors recently did a study about the characteristics of home buyers. Some of the findings might surprise you. Thirteen percent of buyers purchased a home with one or more parents and grandparents together with adult children. There were several reasons given for purchasing a multi-generational home. Cost savings; Children over the…
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Homeowners in Alexandria have increased their home values along with their equity by $10k in the past year. Home prices in Metro had an increase of nearly 4% in the first quarter with existing single family home price at $254,800. In Alexandria the price in single family homes rose by 86% with metro areas seeing double digit increases. Due to higher home prices affordability decreased last year however family median incomes rose in the first quarter. A homeowner making a 5% down payment would need an income of $60,143 to purchase single family home while a homeowner making a 10% down payment will need an income of $56,978 and a homeowner making 20% down payment will need $50,647.
In Alexandria existing home sales rose 4.3% in the first quarter which was a decrease of 4% from the previous year. Existing single family home prices had an increase of 2.5% at $225,700. Continue reading
