It is a question that many of us have thought and wondered about. Especially those in the real estate business or those trying to sell their homes. Signs of a real estate recovery have actually become more and more evident lately. From the recent rises in home prices, home sales, and construction; many experts now feel that this is the upswing of the hard long road of late in the real estate market. In fact, did you know that on a national level home prices are where they were in 2003? According to the SP/Case-Shiller National Home Price Index, the average home price in July actually rose 1.6% compared to June and brought the average back to these levels. Two of the most influential things to be helping rising home costs are the still low mortgage rates and a lower supply of homes for sale. New home construction is up too! As of September we were on pace to build 894,000 homes annually nationwide.
Do you see the same recovery happening here in Western New York? Let us know below!