Skeptics who worried that the recent surge in the housing market was just a fluke are quickly realizing that US real estate is not showing any signs of slowing down. In fact, the housing market is doing better and better every month. More people are starting to list their homes with the confidence that they’ll receive better than their asking price within a matter of weeks or even days. Of course, some markets are doing better than others, but the national trend is positive, and it does appear that almost all major housing markets in the US have passed their bottoming out points and are on a steady upward trend.
According to the National Association of Realtors, home sales went up 0.8% in February over January to a seasonally adjusted annual rate of 4.98 million homes. This increase may not sound all that impressive, but it actually marks the fastest sales pace since November 2009 when a home buyer tax credit helped boost sales temporarily. The sales pace from February also marked a 10.2% increase from the same month last year.
More Houses Selling and at Higher Prices
Not only are more houses selling, they’re also selling at higher prices. While home values are still well below their peak values from 2007, they are rising due to the current lack of inventory, increased buyer confidence, and a strengthening economy. Buyers are putting more faith into the housing market, which is driving prices up, and creating excellent opportunities for investors. In fact, property investors and house flippers should have even more chances for investment in the coming months as summer arrives and more people are expected to put their homes up for sale.
House flippers are currently facing fierce competition to scoop up properties with the highest potential ROI, because smart investors recognize that now is the ideal time to be purchasing real estate. You can help improve your chances of securing the property that you have your eye on by turning to ZINC Financial as your rehab loan lender. ZINC can offer loan approval in just 48 hours and ensure that you have your cash in hand within 7 to 10 business days. Rehab loans from a trusted and reputable lender like ZINC give house flippers an essential leg up in this ultracompetitive market. Contact ZINC Financial today to learn more.