“The lower end of the market is hot, while the upper-market is not,”
Lawrence Yun Chief economist at the NAR
According to the National Association of Realtors, developers built more expensive homes in recent years, while middle-income Americans are eager to buy cheaper properties. Thus, the high-end market has slumped and the market for mid-priced homes has increased slightly, equaling a 4.9% decrease in existing home sales in February 2019.
The article “Home Sales Fall 4.9% in Slow Start to Spring Buying Season,” Associated Press Wire Service, by AP Economics Writer, Christopher Rugaber. also says that mortgage loan applications are up, but cites no sources for that information.
As always, do your research and put your money where you see there is a need. In that market, it will sell.
If you find that modest home that you can remodel for a middle income family, let me know. I have the funding tools to help you.
REI Capital Resources is a loan originator for select investor single-family residential projects. Our goal is to provide fast closing loans to fund your investment projects, so you don’t lose a great deal. This includes bridge loans for the acquisition of property.
Give me a call or send an e-mail for assistance funding your project.