The buzz around town is that FINALLY, the market is starting to balance out as 1st quarter home pricing shows a 10.2% rise in home prices in just March, 2013, alone.  This is the largest house price increase in 7 years with the last increase of home pricing happening in fall of 2006.  Bond yields also rose to 2.132%, proving to be the largest climb in 13 months.  Interest rates, which have been holding at 2.75% for 15-year loans to upwards of 3.8% for 30-year mortgages also climbed slightly as the bond yields rose.  All of these factors also sent the Dow Jones Industrial Average soaring to a new high.

So, what does this mean for current home buyers?  As the inventory of foreclosed homes trickles out, and home prices are rising (along with interest rates), NOW, more than any other time since the Recession began, is the right time to buy a home.  The real estate industry is showing signs of bouncing back, and if this trend continues, the word on the street is that demand will start to outpace supply driving home pricing up even further.  As of right now, it is still a buyer’s market out there, but that could definitely change with all of the positive news coverage of these exciting events.  As consumer confidence grows, those home buyers who were waiting to purchase their new home will “get off of the fence” and become a part of the buying market.  Also, Realtors are getting into the action encouraging their clients to go ahead and move forward with their purchases while home pricing is still favorable, and interest rates offer the opportunity for buyers to have more purchase power – being able to finance more for less, so to speak.

Here at Bedico Creek Preserve, we have experienced a surge in home buying ourselves with the sale of every available Resale home in our community since the middle of last year.  Our new home sales are also at a steady pace.  Currently, we have a large list of Builders, with more buying lots every day, who are building new and custom homes for sale in our community.  If you have never purchased a new home before, you should definitely look into the benefits of buying a new vs. previously owned home.  You will also get to see firsthand what Bedico Creek, a Conservation Community in St. Tammany Parish, has to offer you.  When you buy a home at Bedico Creek Preserve, you also get to enjoy 500 acres free!  Come visit us today to find out about our home prices, deals, and the lifestyle opportunities that we offer.  Call 985-845-4200, E-mail [email protected], or Sign In to send us your information.  We look forward to showing our subdivision to you!

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