Buying A Home: Still the Best Option in the Housing Market

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Buying A Home: Still the Best Option in the Housing Market

Many Americans can agree that today’s housing market offers sound investments for home ownership. Across the U.S., including Noda, North Carolina there are lots of prospering, upbeat locations to raise a family and make a wise investment.

Recent data from the Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index explains that the U.S. housing market continues to move forward as “buy territory”, supporting the notion that the housing market is still a good option for all.

Quarterly reports by the BH&J Index look to answer one key question:

Is it better to rent or buy a home in today’s housing market?

The index studies the whole of the US housing market and then offers a comparison between 23 major cities to demonstrate how the U.S. housing market is doing. The report examines the relationship between purchasing a property and building wealth through equity vs. renting a property and investing in a portfolio of stocks and bonds.

Ken Jonson, Ph.D., one of the index’s authors and a Real Estate Economist & Professor at Florida Atlantic University explained:

“Housing prices, in general, continue to slow and when considered in light of the recent trends in the Buy vs. Rent Index signal that ownership remains an excellent investment for the majority of Americans.”

Among the 23 metro housing areas examined, 15 of them are considered to be moving further into “buy territory”. Three major cities however are currently considered “rent territory’, including Dallas, Denver and Houston. It is expected that these 3 markets will see renting chosen over buying 7 times out of 10.

Eli Beracha, Ph.D., an Assistant Professor from T&S Hollo School of Real Estate at FIU has explained that these 3 markets favor renting to create more wealth and that this will have an impact on homeownership demand and property prices as a result.

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Home prices should return to normal levels when residents in these 3 cities realizes that renting may be a better choice, thus bringing up property affordability.

Bottom Line

The better part of the U.S. is in buy territory, which makes sense in those areas both financially and socially. With rent predicted to rise substantially over the next calendar year, it is still a great idea to consider homeownership.

If you’re ready to own your next property, feel free to call Showcase Realty today at 704.997.3794 or send us a message here!

Are you looking to finally own a home, more specifically in Noda? We have a long list of properties you may want to check out! Take a look at our homes for sale in Noda.

Did you know? Since there is a limited inventory of properties to sell, it’s best to be prepared! Be sure to read Buying a Home? Make Your Offer Stand Out and the Top 11 Things to Know When Buying a Home.

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