New York, NY (PRWEB) July 04, 2013
The Real Estate Marketing Insider today advised its homebuyer readers to invest in their dream homes soon, as interest rates on mortgages will be rising shortly from their record lows as the market improves. REMI’s announcement was prompted by a June 27 news release published by The National Association of Realtors, which indicated a continual recovery for the housing market and a subsequent rise in sales and interest rates.
The NAR report announced that May brought good news for the housing market. The report stated that home sales in May were at their highest level since December 2006, and that home development and buyer confidence are on the rise as well. Nationwide, the number of properties in escrow jumped 6.7 percent in May, indicating a large spike in sales. The same number was 12.1 percent higher than its 2012 equivalent. While these properties haven’t officially been sold (they still have to close escrow) and thus can’t be counted in home sales numbers, they are under contract for sale and the vast majority will clear in the near future.
The Insider celebrates this good news for the real estate market, adding that realtors and agents should have an easier time finding real estate buyer leads, thanks to the healing market. The Insider also reminds prospective homebuyers that the low interest rates won’t last forever. Thanks to the market recovery, interest rates are already pegged to rise above 4 percent. Home buyers who have been hoping to take advantage of the historically low rates on new mortgages are running out of time. REMI advises all prospective buyers to begin their home search now, while interest rates are still low and market conditions reasonable.
The Real Estate Marketing Insider recommends that home buyers who have been waiting to find new property should immediately begin their home search. REMI made this announcement in the wake of an NAR report which stated that market improvements and increases in sales and development have begun to bring interest rates on mortgages back up.
About the Real Estate Marketing Insider:
The Real Estate Marketing Insider is an online publication based in La Jolla, Calif. REMI provides breaking news, trend analysis, and expert advice to real estate professionals and consumers.