Good news: according to the National Home Price NSA Index, home prices have hit a 32-month high! Time to pop the bubbly, right?
Maybe not. David Blitzer, the Managing Director and Chairman of the Index Committee, says that real estate professionals may need to curb their enthusiasm.
“New home construction is now close to a normal pace of about 1.2 million units annually,” he says. “Most housing rebounds following a recession only last for a year or so.”
Just like any other change in the market, you’re better off staying consistent rather than out-thinking yourself with (relatively) short-term market fluctuations.
Or, perhaps you can use this information as a motivation to push through the end of a tough month. It’s your choice. Like so many things in life, your results will be largely dependent on how you process the information you’re given.
Is this a negative or a positive? The call is yours.
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