Another month - another win for home owners & the latest on buying vs. renting:
Bottom Line: Ho-hum...another month more good news about the housing market... The National Association of Realtors is out with with the info on what happened in April. Here were the highlights:
- Sales: +1.6% year over year
- Prices: +6% year over year
- The housing recovery has continued for 62 consecutive months thus far
That's all good. So is this. The most recent mortgage default rates are still on the decline with total activity still at the lowest levels since 2008 meaning that the recovery is absolutely on healthy ground despite the consistently above average year over year prices gains. Why? it's in the headline. With low mortgage rates and high rent rates it's still cheaper to buy and make a mortgage payment than it is to rent and make that monthly payment.