According to Redfin (who tracks home prices in 19 different U.S.
markets), home prices are up 3.2% from July 2011 to July 2012, and the
overall number of homes that are for sale dropped a huge 28%.
Freddie Mac is also sharing news from their U.S. Economic Housing
Outlook for August, and the home price index has risen 4.8%. Not only
that, Freddie Mac says there is no huge shadow inventory waiting to come
onto the market, as others may believe.
These statistics show that the housing markets in major cities are
going to continue to see a falling inventory of housing, which will
drive up the prices. Along the with the low interest rates that are
available now, this is the best time to buy a home!
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