The real estate market is surely one of the most fickle minded beasts known to man. In one year, investors can make a killing selling off homes when they are its peak price range, and availing of mortgages when the rates are down. In the next year, though, every investment could just be on the verge of a breaking even plateau. However, the forecast for the next few months seems to be more than encouraging - and accordingly, people are saying that this is the time to buy. 
Real estate market analysts say that there seems to be something brewing in the air - something intangible that is making home investors, even single-family-rental-home investors put down good money on one or more property / properties. Now, this seeming phenomenon is happening even amidst problems with national economy and major upheavals on the Wall Street. So what is it that is floating freely around, making home owners buy, buy, buy?
First of all, players in the real estate market are seeing a steady decline in mortgage interest rates. Now, if that is not something that you will perk up to, then we don’t know what will. According to the Mortgage Bankers Association of America, the opening week of April 2008 saw the 30-year fixed mortgage rates plunging from 5.98% to 5.74%. This sudden dip in rates has created a chain of positive events.
After that first week, there was a mad scramble for loan applications from all over the US. Small time investors who wish to avail of properties of their own were suddenly talking to loaning agents and plunking in a few thousand bucks on the counter (figuratively speaking, of course.) This resurging interest in the market has of course, made other people take notice and those uncertain home buyers had higher likelihood of finally acquiring their own domiciles.
According to analysts, conventional conforming loans, particularly those offered The FHA and other government backed mortgage agencies have seen a 21.2% increase in loan applications in that short a time. On the other hand, other mortgage agencies are not doing so bad either - with their share of 11% increase in applications. So you can see, more and more people are actually keeping a solid ear on the ground when it comes to the real estate trends. These players in the real estate market arena are not all professionals; some of them are regular folks scouting around for the best home deals possible - and being smart about it too.
Something is certainly stirring the natives restless because further study proves that overall real estate sales are stabilizing far better than anyone has dared hoped. New home sales have dropped to 2.1% and the total inventory of unsold houses from last month’s sales has dropped to about 3%. You may not consider these two factors important, but the state of these affect the real estate market big time. When new sale percentage is high, and there are more unsold houses sitting unnoticed, home prices are bound to surge - not just a little, but in leaps and bounds. As of late, everything seems to be steadily declining: from mortgage rates to unsold houses stat. This is certainly the time to go hunting for that dream home of yours.
