Housing and Mortgage Trends for 2012

Thinking of buying a home? You need to start soon.  Right now it’s still a buyer’s market, but you’ll be competing with a wave of investors looking for bargain properties.  And although mortgage rates are still low, that won’t last forever.

 

Here are some Housing and Mortgage Trends you may see in 2012 according to national experts:

Home Prices Will Stablize -  Nationally, home prices remain lower than a year ago, but many housing experts say there’s not much room for prices to fall further.   The median home price of existing homes was 3.5 percent lower in November 2011 compared to the previous year, according to the National Association of Realtors.

Mortgage Rates Should Still Remain Low – Thanks to the Fed and a slower economy, mortgage rates are expected to stay near record lows for at least the first few months of 2012.

More Investors Enter the Market – If you plan to buy a house, be ready to compete with investors.  According to the National Association of Realtors, 1 in 5 homes sold in 2011 was purchased by an investor and many of these investors are foreign buyers who want to take advantage of the low prices and the weak dollar.

If you are looking to buy a home in Austin, Texas or Houston, Texas, contact Texas Capital Properties today for a FREE Buyer Search sent directly to your email with daily alerts of new listings!