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Health & Fitness

National Real Estate trends as reported by NAR's chief economist

The latest on the national real estate market as a whole

Excuse the interruption, it’s been a busy end of the year.  A couple of weeks back I was able to attend the National Association of Realtors Expo and Convention in Anaheim. 

Below are some highlights on the national real estate market, as reported by Dr. Lawrence Yun, chief economist for NAR. Locally, our office is buzzing here in Moorpark with activity; One can only hope this bodes well for 2012!

Here are some of national trends mentioned:

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  • Home prices have stabilized in the last two years nationwide, even going up in a few markets around the country.
  • New home building is at a 40 year low
  • Investors do not have ENOUGH foreclosure inventory (except in California and some other states)
  • Inflation is still rising while savings rates have dwindled
  • The financial industry is growing and has healthy profits
  • Rents are rising and Yun forecasts this to last for the next five years (a great time for investors)
  • Home price-to-income ratio has not been this low since 1981

This data has led Mr. Yun to conclude now has never been a better time to buy!  New housing is not being built at a rate to keep up with these factors: population growth, immigration, and replacement of older existing homes.  This is hopeful news to real estate industry.  Happy holidays!

Maryann Baum, SFR, is a Troop Real Estate Realtor. Contact her at 805-708-6454 or mbaum@troop.com or follow her on Facebook here.

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