According to the National Association of Home Builders First American Improving Markets Index (IMI), 263 housing markets are showing improvement with a recent gain of 5 markets.
As of last month, the following cities were added to this growing group:
- Tallahassee, FL
- Salinas, CA
- Sioux, CA
- Chicago, IL
- Topeka, KS
- Baton Rouge, LA
- Laredo, TX
- Philadelphia, PA
As further proof that the housing market is on the upswing, the IMI has reported that more than 70% of metro areas are improving due to desirable interest rates and home prices that are more affordable than most people realize. There are some factors that are getting in the way of a faster recovery. Home appraisers are having a tough time keeping up with the rising home values and stricter limitations on obtaining a loan are a direct result of abitious loan offers pre-crash.
We are encouraging all those who are on the fence about buying a home to consider putting in an offer soon. House values are increasing as well as prices. Interest rates are on the rise in this recovering market as well.
To see if your neck of the woods is improving, find more information here.
Lang Premier Properties is home to a leading Oakland County Short Sale Realtor. We specialize in all aspects of real estate including short sales, foreclosures and working with home buyers and sellers in the Troy, Birmingham, Rochester Hills and Bloomfield Hills luxury market. When you hire Lang Premier Properties, whether you are purchasing or selling Metro Detroit Real Estate, you can rest assured that you are in good hands.