Info That Hits Us Where We Live – Saratoga County NY – July 2013

QUOTE OF THE WEEK… “A will finds a way.” –Orison Swett Marden, American writer and physician

INFO THAT HITS US WHERE WE LIVE… The collective will of everyone working in the housing market has certainly found the way to a housing recovery. More evidence of this came last week when a leading data and analytics firm reported that nationwide, home prices in May jumped 2.6% for the month and 12.2% since last year. That was the highest annual increase for their home price index in more than seven years. Their CEO commented, “…pent-up demand and continued low interest rates are fueling strong demand…. We expect that trend to continue to drive up prices throughout the balance of the summer months.”

But we do need to watch those interest rates. Friday, the chief economist at a real estate listings site pointed out, “Today’s strong jobs report makes it more likely that the Fed will start reducing its bond purchases later this year, rather than waiting longer.” Observers worry this tapering of the Fed’s bond buying could push mortgage rates up, although they would still be at historically attractive levels.That same economist also pointed out, “Rising rates won’t derail the housing recovery. They’re rising alongside a strengthening economy.”

Kristen Zorda Kristen Zorda
Loan Officer
648 Plank Rd. Suite 203
Clifton Park NY 12065
Office: 518-366-7999

 

Orson B.Klender,  Associate Broker

Keller Williams Realty Saratoga Springs
38 High Rock Ave, Saratoga Springs, NY 12866

www.RealEstateSaleSaratogaSpringsNY.com

www.OrsonKlender.com

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Cell: 1 (518) 588-2319 ~ Fax: 1(866) 588-6066

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About Real Estate Agent in Saratoga Springs

As an agent who's an expert in this local area, I bring a wealth of knowledge and expertise about buying and selling real estate here. It's not the same everywhere, so you need someone you can trust for up-to-date information. I am eager to serve you.

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