Marshall Realty Blog Post 9-14-16 The Housing Market is Doing Ju - KTVN Channel 2 - Reno Tahoe Sparks News, Weather, Video

Marshall Realty Blog Post 9-14-16 The Housing Market is Doing Just Fine!

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There are some that think that housing affordability is a challenge and others that think home prices are approaching bubble values. When we look at the facts both appear to be untrue. As a matter of fact, the numbers show that the U.S. residential real estate market is doing just fine.

Here are two articles and excerpts that make this point:

The Housing Market Is Finally Starting to Look Healthy – The NY Times

“It has been an excruciatingly long time coming, but the housing sector in the United States is finally getting healthy. Thank millennials and thank home builders who are starting to produce more of the starter houses young people demand.”

Why the U.S. Housing Market Is Good and Getting Even Better – The Street

“Interest rates are so low now that a family can buy the median-priced U.S. home on income of less than $45,000 a year -- about $11,000 less than the median household income. And half of America's houses are cheaper than that.”

There are those worried that all this positive talk resembles what was being said in 2004 and 2005. Jonathan Smoke, Real Estate Expert and Chief Economist at realtor.com, explains the difference very simply but effectively:

“The havoc during the last cycle was the result of building too many homes and of speculation fueled by loose credit. That’s the exact opposite of what we have today.”

Both of these articles are about the national housing market. If you would like to know more about Reno real estate and how these national trends affect your home then let's get together to discuss your neighborhood. If you are interested in buying a home or selling your house , contact Marshall Realty today at (775) 787-7400. Reno real estate is changing all of the time. We will help guide you through the process.

Content Courtesy: Keeping Current Matters and Marshall Realty

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