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Category Archives: Housing Market
70% Think Now is a Good Time to Buy
According to the Fannie Mae National Housing Survey (February 2012), 70% respondents believe that now is a good time to buy a new home and 13% (the highest level in over a year) believe now is a good time to … Continue reading
Housing Market Looking Forward to a Promising 2013
According to a recent report by Kiplinger, good news is coming for the housing market! This doesn’t mean we should expect to see a sudden upswing in prices, rather that during 2012 prices should reach bottom and then start to stabilize, setting … Continue reading
Posted in Housing Market, Uncategorized
Tagged affordability, buffalo, home buyer, housing, mortgage rates
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Buffalo-Niagara 4th on List of Lowest Underwater Markets
Across the country, 11 million households are “underwater”, where the mortgage is more than the value of the home. In some places, over 50% homes are underwater, e.g., Phoenix-Mesa-Glendale, Arizona (53.96%) and Las Vegas-Paradise, Nevada (63.96%). However, there are regions where … Continue reading
Existing Home Prices up in Q3
The median sales price for a single family home in the Buffalo-Niagara region increased from $113k in Q2 2011 to $124k in Q3 2011 (9% increase) according to the latest data from the National Association of Realtors. The US as a whole … Continue reading
Posted in Housing Market, Regional News
Tagged buffalo-niagara, home sales, national association of realtors
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Monthly mortgage payment down about 40% since 2006
Housing is more affordable today than it was in 2006 with the median monthly mortgage payment now $700, compared with nearly $1,140 five years ago*. The decline in home prices plus low interest rates have combined to create a ratio … Continue reading
