According to the National Association of Home Builders, 59 metros have fully recovered from the last housing market crash and 300 saw year over year gains. Meanwhile a Trulia survey showed that 41 percent of Americans would prefer a new home while 21 percent preferred an existing home and 38 percent had no preference. In the mortgage market, conforming no point 30 year fixed rates average 4 1/4 percent with 15 year rates closer to 3 1/4 percent.
And now for something, completely different: New Yorkers have some of the longest commutes, averaging 40 minutes, well above the national average of 20 minutes.
For more information on a home purchase, refinance, or a reverse mortgage, visit our website at www.ARAMCO.biz or call me at 877-700-0942
This is Mehran Aram with today's ARAMCO report.