Americans Still Believe In Homeownership

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The Federal Savings Bank comments on recent data released from the National Association of Realtors.

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The Federal Savings Bank encourages all prospects to realize home prices are going to rising as long as the demand for purchasing a home remains higher than the number of homes listed for sale.

Lenders like The Federal Savings Bank were thrilled to see data presented by the National Association of Realtors showing Americans still strongly believe in homeownership.

In an October 14th release, the National Association of Realtors presented highlighted data points of their 2015 Housing Pulse Survey. The data showed that 85% of Americans agreed that owning a home was a good decision “despite cost concerns,” with 73% strongly agreeing. As for the timing of purchasing a home, 68% felt that “now is a good time to buy a home.” The report further stated the “intensity of that feeling has dropped somewhat since 2013.” The Federal Savings Bank thinks due to continuously rising home prices since 2013, it’s only natural that prospective home buyers are taking on a unattractive view of purchasing a home. In addition, many prospective buyers are feeling like they have lost the golden opportunity to purchase a home when prices were at their trough in many parts of the county in 2012.

The Federal Savings Bank encourages all prospects to realize home prices are going to rising as long as the demand for purchasing a home remains higher than the number of homes listed for sale. With the national unemployment rate below 5%, lenders expect demand to keep on growing and for home prices to continue even higher! The only breaks individuals are reaping on the sidelines are low mortgage rates. Currently, 30-year rates are much lower than where they were 2 months ago. If individuals are still unsure on whether or not now is a good time to purchase a property, they should at least get pre-approved for a home loan now before rates rise with home prices.

Whether a client comes to us via a customer, realty or trusted referral source, The Federal Savings Bank understands how important every purchase or refinance transaction in order to better help our clients optimize the purchase or refinance of their home.

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Giorgio Urbano Ferrero
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