What Pacific Union International (“PUI”) explains in its recent blog post titled, “2012 to Set a Record for Housing Affordability” is undeniable: Statistically, 2012 was one of the most affordable years in recent history to buy a home.
Prices hit bottom and mortgage rates set record lows. The combination meant many more families could afford to move to Lafayette – and they knew it. So they took steps to pre-qualify for loans. They spent time driving our streets and stepping into open houses. Many bid on properties, prepared to sign on the dotted line, only to be disappointed. What stopped them? A lack of available housing inventory and resulting fierce competition for the A+ properties they wanted.
The key sentence in the PUI article for our Lafayette market place is the final one: “Fortunately, a gradual rise in home prices that started in the second half of 2012 is expected to coax more sellers into the market in 2013, which should help relieve the pent-up demand for homes.”
Already we are seeing more homes… (Read More)
- Why the Five Star Real Estate Professional Award Matters - November 9, 2015
- Coming Soon | 2 Roxanne Lane Lafayette, CA 94549 - April 2, 2015
- Preparing Your Lafayette Home for Sale: Where Should You Spend Before Listing Your Home? - March 17, 2015
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