Posted by lindsay on August 4, 2014
The road to recovery remains steady in America. The media are regularly reporting that housing numbers are continuing to head in the right direction; up. Property prices are increasing, foreclosures are reducing and consumer confidence is swelling. While buyer numbers may bounce back and forth from month to month the desire is there, they write, and improving prices are a reflection of this.
Many investors, who for the most part are purchasing all in cash, are proving healthy competition to regular homebuyers. This competitiveness is further driving up prices, with some areas experiencing jumps as high as 20+ percent.
For those renting their homes, they can take comfort knowing they will still reap rental rewards, as the market’s new lending criteria is so tight that, even if buyers wanted to make a purchase, far fewer now meet the required standards.