Last year, many Orange County Realtors and finance experts questioned if the Real Estate Market would continue improving, especially as some people saw potential “bumps” in the road like an increase in foreclosures or short sales but, thanks to a recent report by Fannie Mae, all fears have been laid to rest and it’s confirmed that the improved Real Estate market is here to stay.
Hooray For Growth!
According to the Fannie Mae report, home prices rose by 10 percent in January and February 2013 as there were almost 2 million homes sold across the United States. This is good news for everyone, especially for millions of homebuyers who have been hungry for homes to buy thanks to: low mortgage interest rates and financing options like VA loans, HUD loans and FHA loans.
Behind The Numbers
As home prices are up across the country construction of new homes are also up as well and new home sales increased by almost 13 percent in January and February as well.
These home sales are expected to grow by almost 11 percent more for the rest of this year and strong home sales are expected in almost every metro market across the Untied States including major cities like Los Angeles, Chicago and New York.
Great Time To Buy
Homebuyers in Orange County are encouraged to jump into the Real Estate market now so they can benefit from historically low mortgage interest rates and rock bottom home prices in Orange County.
To learn more about the latest housing market statistics or to view Orange County homes for sale, contact Fred Sed & Associates today by calling us at (949) 272-0125 for a free Real Estate consultation.