Although the economy is soft and consumer confidence remains low, new data from the National Association of REALTORS® shows positive signs for the future. To help REALTORS® interpret current economic data and address clients' concerns, here are 10 key facts to understand about today's market.
- The economy is growing, though slowly.
- The private sector is finally creating some jobs.
- Consumer confidence remains low, though clearly off bottom.
- The 30-year mortgage rate is at generational lows.
- The national median-home price is stabilizing.
- Other home-price measurements also are showing price stabilization.
- Home price-to-income ratios have returned to fundamentally justifiable levels.
- Economists expect price increases in upcoming years.
- Delinquencies are high but recent loan originations are performing well.
- The long-term path to self reliance may be helped from long-term housing-wealth gains.
To see the statistics behind these facts, download the full NAR research report.
Copyright National Association of REALTORS®. Reprinted with Permission.
