Where is the housing market going?

Don’t worry, it’s still here!

The Mortgage Bankers Association is projecting a 28% jump in purchase money originations in 2011 over last year. The latest forecast calls for an increase in purchase money mortgages from $474 billion last year to $606 billion in 2011. And, purchase money lending is expected to increase again in 2012, to $729 billion! The only bad news is that the refinance business is expected to drop a whopping 59%. But the way I see it, that is not bad news at all.  My take is that the drop in refi’s is because the focus is shifting to buying again. Many homeowners have been worried over the last couple of years as to where this housing market was headed. Therefore, they refi’ed with the intension of staying put and weathering the storm. NOW, the focus appears to be shifting to investing in the low priced housing market. Sales are up in many strong markets and weak ones are gaining speed.

Happy buying!

About Jeff Hansen, Realtor in Colorado

Search for homes here; www.jeffhansen.remax.com for FREE. Licensed Real Estate broker with RE/MAX Professionals at 10135 W. San Juan Way, Littleton, Colorado 80127. I have been a Realtor Since 1992 and provide Free Real Estate Advice Realtor in Littleton, Colorado and the Metro Denver Area, A Real Estate investment company focusing on the buyers and sellers of homes, also including fix and flips and rental properties, Listings and all sales of realty. (303)794-4530 Disclaimer I will not receive any compensation or take on any liability because of any conversation on this or any related web page w/o any written brokerage agreement. And there will be no relationship actual or implied because of any conversation on this or similar pages. No written agreement, therefore. AND Differ from state to state, so check your state's rules.
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