With so many great deals out there right now it is no surprise that the National Association of Realtors has noted that in July the number of existing home sales has increased – and not just increased, but is at the highest level for the previous five months!
NAR’s president Richard Gaylord says that buyers are coming to the market to take advantage of the great deals available as well as cheap mortgage rates. It is expected that growth will increase in the fourth quarter as the provisions of the housing stimulus package come into effect properly – including a tax credit for first time buyers!
Stability is expected by 2009 – however the Columbus Metro area is already one of the most stable housing markets in the country due to the great local economy and job growth. Analyzing NAR home sales data since 1968 it shows that housing on average increased 1 or 2 percent above inflation each year making owning a home a great investment by building wealth over time.
If you are considering purchasing a property in New Albany or the surrounding Central Ohio area then please contact the Raines Group for professional Real Estate advice. You can contact the Raines Group by visiting their website.