Housing Market Update
Overall, the Residential Real Estate Market is still going through a clearing process. Homebuyer’s are gradually absorbing the oversupply of housing created by the housing crisis of the past several years. Mortgage Rates remain at their lowest level in decades even though the Federal Reserve is ending its quantitative easing program. If Congress can pass legislation raising the debt ceiling while reducing the deficit, employers should start hiring more during the second half of this year. Employment is the key to the Housing Market and to our economy as a whole.
