Home Values are on the Rise....

Trulia researches and track trends in the real estate market.  According to their recent findings, the listing price for homes on the market rose 7% within the last year.  At the same time as these prices were rising, the affordability gap between renting and owning a home remains very favorable for home ownership.  In fact, their research indicates that it is 44% less expensive to own a home than to rent.

Low mortgage rates play an important role in the price of current home ownership.  Although rates were rising in March, the 30-year fixed rate (according to Freddie Mac) dropped from 3.9% to 3.5% between February 2012-2013.  These rates are historically quite low, and make the current home buying and building market quite attractive.

We are encouraged by the increase in the market activity, and are optimistic that we will continue to see an increase in the market demand for home ownership and home building.