Real Estate Investing

NBC News reports that the housing market recovery is well on its way. Indeed, more people are buying houses, inventories of distressed properties are down, and prices are moving slowly upwards.

Interestingly, according to NBC, "Current homeowners accounted for 54 percent of October’s non-distressed market, up from 50 percent in June," while first-time home sales are actually declining. "Unfortunately, first-time home buyers are seeing just the opposite, largely left out of this surge in sales and prices. Their share of the market, usually up in the 40 percent range historically, fell to 34.7 percent in October."

There is an interesting shift occurring in the real estate market. Regardless of low mortgage interest rates, low housing costs, and strengthening housing market, there are some current or former homeowners who have been changed by the housing crisis.  According to a recent AOL real estate article, this group of home renters with "vehement opposition to homeownership could continue to color the discourse about housing for years to come." Here in Memphis, this new segment of the population contributes to the continued high demand for quality Memphis real estate as well as quality single-family home rentals nationwide.