On Friday, November 11th, 2011, the chief economist of the nation’s largest real estate group said Gradual improvement in the housing market is expected next year, with existing-home sales edging up 4% to 5% and new home sales getting an even bigger boost off this year’s record lows.
“Tight mortgage credit conditions have been holding back homebuyers all year, and consumer confidence has been shaky recently,” Lawrence Yun, chief economist of the National Association of Realtors, said. “Nonetheless, there is a sizeable pent-up demand based on population growth, employment levels and a doubling-up phenomenon that can’t continue indefinitely.” Mortgage interest rates, he predicted, would gradually rise from record 2011 lows to 4.5% by the middle of 2012. With falling inventory, the median home price should rise in 2012, he said. “Home prices have yet to show a definitive stabilization pattern in most areas. Still, given an over-correction in prices, there likely will be moderate appreciation in 2012,” Yun said.
So stop in and visit one of Peachtree Residential’s beautiful communities to take advantage of current inventory homes that are priced to sell for closings this year and with unbelievable incentives. Several homes are under construction as well and there is the opportunity to join several others who are building their dream home with Peachtree Residential and taking advantage of our re-set pre-sale prices for today’s market!
Currently Peachtree Residential is building new homes in Alpharetta, Cumming, East Cobb, Fayetteville, Flowery Branch, Hoschton, Johns Creek, Milton, Norcross-Peachtree Corners, and Roswell. The new homes are priced from the $200’s to a Million. Several communities are gated, some on lakes, or in Master Planned Communities and several with amenities or located within walking distance to parks. To learn more about Peachtree Residential and start your quality new home search visit www.PeachtreeResidential.com 770-622-2522