Its that time of the month again where the National Association of Realtors looks at the pending home sales index again and gives us the latest on the current market trends and conditions. This month, the verdict is that the market has changed very little. Stability is in the air with the market oscillating between up and down in the last few months it appears that things have levelled out.
With the nationalization of Fannie Mae and Freddie Mac announced last weekend it is thought that like the surge in interest in Banking shares on the stock market that this will be a much needed boost for the national housing picture as in the previous months the stringesnt FNMA and FHLMC criteria had stifled the market slightly. However with the expansion of the FHA program since the Housing Stimulus Package came into effect has really been amazing with a surge in FHA applications.
With a economy still showing positive growth and historically low inflation, as well as low mortgage rates now is the time to buy property before it increases in the coming quarters.
If you are considering purchasing a property in New Albany or the surrounding Central Ohio Columbus Metro Area communities then please contact the Raines Group for professional Real Estate advice.