According to Freddie Mac, due to the rates being at an all time 60 year low, the levels of Home Buyer Affordability is continuing to increase.
This is good news. The article I read this morning states that 'The typical family had more than double the income needed to purchase a median price home in January."
The market is definitely starting to turn. We have great, unbelievable rates, lending is loosening (just a tad), we are working through the Short-Sales, the Robo-Signing Settlement is underway, HARP has expanded, all things that are helping to work through this.
The number of homes here in the Santa Clarita Valley for sale is very low. Multiple offers are happening. Short-Sales are getting approved. Buyers are buying homes. When we start to see a few more homes available for sale, I believe more people will come out to buy as well.
We know that a lot of people were waiting for the infamous bottom to appear....it's here people.....that's what we are hearing...it's here....ya think?