Buyer Confidence Increases: Renters Lean Towards Buying New Homes
As the housing market stabilizes, renters are becoming more confident that now is the perfect time to purchase a Lakeland, Winter Haven, Tampa or Orlando new home. According to results from Fannie Mae’s October 2012 National Housing Survey, Americans are confident that home prices will increase over the next 12 months, but expect an even larger jump in rental prices. As hesitant buyers calculate the increasing cost of renting, they are seeing more value in purchasing a home.
On average, survey respondents expect home prices to increase 1.7 percent in the next 12 months, a sign of buyer confidence and a recovering housing market. Additional highlights from the survey include:
- 72 percent of respondents say it’s a good time to buy.
- 50 percent believe rental prices will rise in the next year, a three percentage point rise over last month.
- 10 percent said that home prices will go down in the next 12 months, a 13 percentage point decrease since October 2011.
- 19 percent said their household income is significantly higher than it was 12 months ago.
If you have been considering home ownership, then now is the time to buy. 2012 has been a year of steady growth for the housing market and 2013 is expected to be even better. Make your home purchase while pricing and interest rates are still low!
Highland Homes builds affordable homes priced from the low-$100,000s in more than 25 communities throughout central Florida. To make purchasing a new home even more affordable, qualified buyers can move into their dream Lake County, Pasco County or Polk County home for just $99 down.
For more information on all of our beautiful Florida new home communities, visit the Highland Homes website.