Sunday, July 26, 2009

Buyers motivated by affordability, interest rates

We are in the most affordable housing market in 28 years. and low prices and low interest rates are attracting millions of home buyers to look for deals. However, the low prices are also causing home sellers to put off putting their homes on the market according to the new national® Homeownership Survey. Based on the survey, affordability is clearly driving more than two-thirds (65.2%) of potential buyers back into today's housing market.

Here are some other statistics:

--> 19.6% of prospective buyers say foreclosure bargains in their communities would motivate them to purchase a home.
--> An additional 15.5% said they're motivated to buy soon because they think prices are as low as they will go
--> An another 15.5% said they're motivated to buy before interest rates rise.
--> 14.6% of first time homebuyers say that the $8,000 Federal tax credit is the motivator to purchase a new home in the future.
--> 66.3% surveyed said they are not likely to consider buying a foreclosure in the future.

Are you interested in taking advantage of the current housing market?
Do you want more information about the Mint Hill, Matthews and Charlotte area real estate market?
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