After years of tough news in the real estate market things are finally turning around. Here with a good news report on real estate is our expert Nick Krautter from Keller Williams real estate and sellpdx.com
Q. What’s the biggest feel good story to report this week?
A. Prices are up nationally 1.3% in April according to the Case/Shiller index. I’m seeing prices go up even more in neighborhoods with very low inventory.
Q. What about new construction?
A. The in-fill construction is almost all selling before construction is complete and new subdivisions are going in again in the suburbs. National new home sales jumped almost 8% in May.
Q. What about interest rates?
A. Interest rates hit a new historic low with conventional 30 year fixed rate loans at 3.5% and FHA at 3.25%