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The Feds are holding rates down for now, but it comes as no surprise that interest rates are starting to rise. Will a change in interest rates affect interest in new homes? “Momentum in the housing market is as strong as ever,” said NAHB Chief Economist David Seiders. “On the financing front, mortgage rates have risen from their March lows but remain quite favorable on an historical basis. Furthermore, stronger growth in jobs and income is supporting housing demand, and that pattern should continue throughout the year.” The National Association of Home Builders is confident that there isn’t going to be a housing “bubble” that bursts and sends buyers scattering. Some are pointing to the “bubbles” of the 80s and 90s, but there are several differences between those markets and the markets of today.
“Buyer demand is strong, inventories of unsold
houses are lean, and there’s a sizeable backlog of unused building permits,”
said Seiders. “This bodes well for housing production in the coming months.”
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Will Interest Rates Affect Interest in New Homes? Certified New Home Specialists™ Use Their Heads for Marketing Material World - Stainless Steel |
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Dennis
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