We are now beginning to see solid signs of recovery in the housing market. This report (click here) is one in a pattern of news items that begin to document the housing recovery. Price increases are certainly a sign that things are beginning to firm up, but a full recovery is still a ways off. It is however an early indicator that prices for the most part are as good as they are going to get. Coupled with low interest rates 30 year fixed conventional @ 4.99% and FHA @ 4.875% represents tremendous value opportunities.
As the recovery gains traction, we will see interest rates begin to rise and this period of unbelievably low rates will have passed.