Brooklyn, NY Real Estate | US Housing Market Still In ‘Buy Territory’!

Brooklyn, NY Real Estate |  US Housing Market Still In ‘Buy Territory’!

  Featured, First Time Home Buyers, For Buyers, Move-Up Buyers, Rent vs. Buy

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 The topic of the day is US Housing Market Still In ‘Buy Territory’!

According to the Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, the U.S. housing market has continued to move deeper into buy territory, supporting the belief that housing markets across the country remain a sound investment.

The BH&J Index is a quarterly report that attempts to answer the question:

In today’s housing market, is it better to rent or buy a home?

The index examines the entire US housing market and then isolates 23 major cities for comparison. The researchers “measure the relationship between purchasing property and building wealth through a buildup in equity versus renting a comparable property and investing in a portfolio of stocks and bonds.” 

While 13 of the 23 metropolitan markets examined moved further into buy territory, markets like Dallas, Denver, and Houston are currently deep into rent territory. Due to a lack of inventory, the home prices in these areas have increased by 6.7%, 6.3%, and 5.3%  respectively from a year ago.

According to Eli Beracha, Ph.D., Co-Creator of the index, home prices will begin to return to more normal levels.

“Our data indicates that prices are above their 40-year trend but not significantly so as they were in 2007. Rather than a crash, I anticipate slower growth in prices accompanied by longer marketing times for sellers and increasing inventories, which should bring prices back in conjunction with their 40-year trend.”

Bottom Line

The majority of the country is strongly in buy territory. Buying a home makes sense socially and financially, as rents are predicted to increase substantially in the next year. Protect yourself from rising rents by locking in your housing cost with a mortgage payment now. 

To Find Out More About the Study: The BH&J Index and other FAU real estate activities are sponsored by Investments Limited of Boca Raton. The BH&J Index is published quarterly and is available online at http://business.fau.edu/buyvsrent.

You might also enjoy reading...

• 4 Reasons Spring is a Great Time to Buy a Home!
• Should I Wait Until Next Year to Buy? Or Buy Now? [INFOGRAPHIC]
• Top 5 Reasons to Hire a Real Estate Professional When Buying or Selling!
• Is Now a Good Time to Rent?

Source... KCM RossMery Blog   http://nyhomesforsale.blog/

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