The headline from the article link below states "Median Price Rises in nearly 60 percent of US metropolitan areas in first quarter".
This is an exuberant headline that would lead one to believe that the macro real estate market is out of the woods and on the road to recovery. We all hope this is the case but we will only have an idea as to the true health of the national market after we have 3-4 quarters with successive gains without the Government's underlying support mechanisms in place. First time home buyers have accounted for a huge percentage of transactions spurred on by huge incentives. Also, the mortgage market has benefited from a plummeting Euro in the last month.
There are some good signs in the market but I think it is a bit early to say that the broad market is out of the woods and that we are in full recovery mode. So, how do you know whether to buy or not? It needs to make sense... what does that mean? It means that you're criteria alone will determine if it is a good time to buy. The reality is that now is a much better time to buy than 4 years ago if you are gainfully employed. Generally, your dollar goes a lot farther now than it did then...
http://www.fox59.com/business/sns-ap-us-home-stretch,0,1815580.story
From the desk of Zach Trailer
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