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Peoples Home Equity recently posted a press release on their site which echoed news from CoreLogic’s “Case-Schiller Indexes” that homes values were “rising in 88% of all metro areas records.” Now, another notable real estate research company, National Association of Realtors posted their own report yesterday, on November 6th stating that “144 out of 163 metropolitan statistical areas1 (MSAs)” were showing gains based on closings in the third quarter compared with the third quarter of 2012. Note, this report from NAR is completely separate from that of CoreLogic’s. Corelogic’s report is based on a 2nd quarter annual rise, whereas the NAR report is newer taking samples from the 3rd quarter of last year to this year.
The report showed that 4 of the 5 most expensive housing markets were located in California, with the exception of Honolulu. The 5 lowest price markets were all located in the midwest/east of the USA: Rockford, IL, Decatur, IL, Ocala, FL, and Topeka, KS Lawrence Yun, NAR’s chief economist has stated in the report, “We have the ongoing situation of more buyers than sellers in the market, so lower sales will help to take the pressure off home price growth and allow them to rise slowly at a single-digit growth rate in 2014.”
We are seeing reputable firms writing positive research reports because the housing market is actually rising in good form. While the “housing recovery” is still a valid phrase since none of Case-Schiller Home Price Indices have surpassed records highs yet, the term may be misleading. The market are in “full steam ahead” mode and may quickly reach new highs in the next few years if unemployment continues to decline and more Americans are able to afford a mortgage.
Peoples Home Equity, a lender with multiple locations around the USA is eager to get prospective loan applicants approved for a mortgage so they may participate in the rising real estate market. To streamline the application process Peoples Home Equity redesigned its website to show the “Home Loan Quick Qualifier” on its home page. The process is quick and easy, the user simply has to complete 7 different fields and click “Get Started.”
Be sure to visit PeoplesHomeEquity.com to compare all mortgage options they offer as well as quickly get started on a home loan application. The lender has hundreds of loan officers ready to serve all mortgage needs today.