NeWS to KnOW

Rental prices across the US increased 11.6% in 2010. At the same time, we saw a drop in home prices of 9.8%. The rental price increase was a factor of the uncertainty in our economic climate. More people are transitioning from a buying mentality to one that makes them more inclined to rent.

Industry experts expect to see an increase of rental properties in 2011 due to foreclosures and long standing sale properties re-entering the markets as rentals. This increase in supply will help to ease rent prices. As the economy continues to show signs of improvement, the mentality will likely shift back towards buying, as people feel more comfortable about the future. We currently are experiencing more purchase inquiries and mortgages already for 2011.

If you have a questions or want to discuss your mortgage options, give me a call at 205-271-8118.