Is the housing market be heating up once again? The latest numbers say it could be. Some optimists believe the crisis may be over after months and maybe years of decline. The housing starts are up meaning builders are getting back to work building new homes. Nationwide, single family starts jumped 7.5% in May, the third consecutive increase. Building permits also increased 4% for all homes. Last month, 1400 homes sold in the metro, which is also an increase.
To many analysts, these are all good signs which may point to the fact that the housing crisis has hit rock bottom and may now be on the rise.
Real estate agent, Mark Gellman says, "For those great houses, it extremely consistent. In the first 60 days, we are seeing about 50% of homes selling. In the fist 30 days, we are seeing 26% sell. And that's very consistent with last year."
The bad news may be that the days of super low interest rates may be over. Average rates for a 30 year mortgage are now over 5%.
To many analysts, these are all good signs which may point to the fact that the housing crisis has hit rock bottom and may now be on the rise.
Real estate agent, Mark Gellman says, "For those great houses, it extremely consistent. In the first 60 days, we are seeing about 50% of homes selling. In the fist 30 days, we are seeing 26% sell. And that's very consistent with last year."
The bad news may be that the days of super low interest rates may be over. Average rates for a 30 year mortgage are now over 5%.
