April 23, 2024 5:15 am
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Why homebuyers really need to hurry

Screen Shot 2016-03-15 at 8.28.26 AMDaily Real Estate News

Homebuyers are expected to outnumber home sellers this spring, which likely will drive up asking prices, Lawrence Yun, the chief economist for the National Association of REALTORS®, told The Wall Street Journal.

“Given that prices are rising, more people will be pushed on the borderline of conventional mortgage limits and may need a large down payment or a jumbo mortgage,” Yun says.

Nationwide, the median price for an existing single-family home in January was $213,800 – up 8.2 percent just from a year ago, according to NAR’s housing data. Home prices are moving at the highest rate since April 2015.

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© 2024 Rose Law Group Reporter

Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.