More Good News

Recently, Alan Greenspan, former Federal Reserve Chairman, said of the real estate market: “The worst is
behind us."  Speaking at a conference organized by a national financial services firm, Greenspan predicted that the inventories of unsold homes would decrease and stabilize against sales levels.

Greenspan retired from the U.S. central bank in January, but his comments have still had the power to move financial markets.

As if in agreement with Greenspan's comments, for the second straight time, the Mortgage Bankers Association (MBA), reported a big increase in the demand for home loans.

Considered a timely gauge of U.S. home sales, the MBA's purchase mortgage index increased by 7.1 percent, as applications for fixed and adjustable rate mortgages rose across the board.

Buyers seem to be catching on that it might be the best time in years to buy a home!

Weichert News - 12/2006