This article from Keeping Current Matters gives up the top misconceptions in the home buying process! According to the article “Many believe when real estate values are increasing, owning a home becomes less affordable. That misconception is not necessarily true. In most cases, homes are purchased with a mortgage.”
The current mortgage rate is a major component of the affordability equation. Mortgage rates have fallen by almost a full percentage point since this time last year. Another major piece of the equation is a buyer’s income. The median family income has risen by 5% over the last year, contributing to the affordability factor.
Here are the top reasons from the article:
CoreLogic, in their January 2020 Market Pulse Report, agrees with Olsen, projecting home value appreciation in all fifty states this year. Here’s the breakdown:
21 states appreciating 5% or more
26 states appreciating between 3-5%
Only 3 states appreciating less than 3%
For more information and a link to the full article click HERE
