The Housing Bust is Over

While homes for sale in Encinitas have stayed relatively steady considering the market across the United States, there is now incontrovertible proof that homes for sale in Encinitas and across the nation have turned a corner.

The convincing facts, as noted in a recent Wall Street Journal article, show how the U.S. housing market has moved beyond attention-grabbing predictions to a bottoming out and state of steady increase.

  • Nearly 10% more existing homes were sold in May when compared to the same numbers from the year previous in the same month.
  • The normal level for an inventory of existing homes is about six months’ worth and we have currently fallen to that level.
  • The percentage of homes that sit vacant are at the lowest levels since 2006.
  • Work has begun by builders on 26% more single-family homes in the month of May this year than in May of 2011.
  • Of the expert forecasters surveyed by the Wall Street Journal, 44 believe that the bottom has been reached by the housing market; only 3 do not believe we have reached the bottom.

With mortgage rates still at extraordinary lows – 3.62% for a 30-year loan from Freddie Mac for example – now may be the best time to purchase Encinitas real estate. If you are interested in finding a home in Encinitas, contact an Encinitas Realtor.

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