Thinking about buying a home? You may not want to wait another year or two…two of the biggest U.S. banks are predicting an accelerated rebound in home prices.
Recent predictions from both JPMorgan Chase & Co. (JPM) and Bank of America Corp. (BAC) predict that home prices will continue to rise through 2015. JPMorgan has doubled its forecast for U.S. home price gains in 2013 to 7% this week, and predicts a more than 14% increase through 2015. Bank of America Corp. (BAC) said that property values will jump 8% this year, up from a prior estimate of 4.7%.
The two biggest U.S. banks are predicting an accelerated rebound as homebuyers and investors rush to acquire a dwindling supply of properties and the Federal Reserve pushes down borrowing costs by buying mortgage bonds.
This is strengthening the economy…however, if you are interested in buying a home, don’t wait too much longer. The bottom line is, the inventory is limited, home prices are increasing and mortgages are starting to get harder to acquire.
Contact Kevin today, 610-609-1096, if you are interested in purchasing a home.