04 Oct September/October 2015 Market Pulse
THIS ARTICLE WAS ORIGINALLY PUBLISHED BY REALTOR® MAG AND WRITTEN BY LAWRENCE YUN.
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Check out Lawrence Yun’s snapshot of the current housing market.
SEPTEMBER 2015 | BY LAWRENCE YUN
The second half of 2015 started on a positive note, with home sales steadily inching up. They’re on track to hit 5.6 million by the end of the year. Interest rates remain low but home prices, fueled by tight inventories, continue to rise, squeezing first-time buyers.
Monthly rents have been climbing steadily since the economic recovery began in 2009, while monthly mortgage payments have dropped. The result is a wide gap between the growth rate of rents and mortgage payments. The trend lines give renters a greater financial incentive to consider buying.