Great time to buy!!!

The overall economy has clearly hit a soft patch and the daily news regarding Europe is impacting the global market. The concerns regarding the potential slowing of the U.S. recovery and Europe’s potential crisis manifests itself in exceptionally-low consumer confidence. The consumer confidence level is one of the primary challenges to home sales. Although sales are impacted by lower consumer confidence, the market fundamentals support the idea that it’s a great time to buy. Mortgage rates remain at historic lows and the affordability index to buy a home is at all-time highs. The “great time to buy” sentiment is supported by the fact that we are seeing a boom in investor demand for residential real estate. As investors look at their various choices of asset classes, they are making informed decisions and choosing residential real estate. If investors are picking this time to buy homes, isn’t it a confirmation to all of us that it truly is a great time to buy? We may all look back at 2011-2012 and see it as the buying opportunity of a generation.