Chicago, IL (PRWEB) December 07, 2013
Peoples Home Equity is proud to share information from a new monthly, Home Price Index report published on December 3rd by Corelogic.com, a provider of financial, property, and consumer information and analytics.
Among the many data points, the report shows that its national home price index has shown year-over-year gains for 20 consecutive months. In addition, it shows that home prices have risen from September to October by 0.4% as well as 11% from October 2012. As the housing recovery moves full steam ahead, prices remain -17.3% below their April 2006 peak. Opportunities are perhaps greatest in the states that remain furthest below their pricing peaks in October. These states include: Nevada at -40.7%, Florida at -37.4% and Arizona at -31.5%.
Peoples Home Equity has been sharing this information to lure prospective home buyers, especially first time home buyers. The lender sees that the individuals who are going through the application process now, are also the ones eager to ride the continued housing recovery. Real estate inventories remain tight due to home owners unwilling to sell their property just yet, which are spurring up demand. The reason why home owners are unwilling to sell their homes is because many are still underwater on their mortgage.
It seems like the trend in rising home prices will continue after the U.S. Bureau of Labor Statistics reported that unemployment declined from 7.3% in October to just 7.0% in November. This decline coupled with the decline in continued jobless claims means more individuals have a job and may be prepared to apply for a mortgage. As more people are given credit to buy a home real estate prices are further fueled higher by demand. To be ready for both rising home prices and the possibility of interest rates increasing drastically by Fed policy changing soon, Peoples Home Equity strongly urges individuals to apply for a home loan now. Above all, an approved home loan will give sellers the idea that one is serious get biding with an approved home loan.
Please contact Peoples Home Equity loan officer today for mortgage details at: (855)-897-0300