Increasing Rents Could Be Good For Home Sales
Rising rents may be irksome to many out there, but it could be good for home sales, Chicago Agent Magazine reported today.
From Chicago Agent:
According to Jay Brinkmann, Mortgage Bankers Association’s chief economist, the rising cost of renting, coupled with a surprisingly low number of renters who intend on renewing their leases (just 60 percent, according to a Kingsley Associates study), could equal a strong demand for housing when the weather warms in the spring. Brinkmann predicts sales of single-family homes in the second quarter to reach 4.39 million, while Mike Fratantoni, vice president of economics and research at the MBA, predicted a 10 percent increase in home sales in 2013.
Brinkmann did provide a caveat, saying that the housing market’s success depends mainly on economic growth.
See other articles related to: rents rise suburbs, rents rise chicago, renting chicago suburbs, rent vs. buy, rent versus buy in chicago, rent rises in chicago loop, rent chicago suburbs, rent chicago apartments, rent chicago
This article originally published at http://chicago.urbanturf.com/articles/article/increasing_rents_a_blessing_for_sellers/5196
Obama Reduces Refinance Fees For FHA Loans
A Home From Ikea for $86,500
Live in MJ’s Home For Just $29 Million
Buying Is More Affordable Than Renting with Rent-to-Own Programs
3.9: Mortgage Rates Settle Back Down
Wall Street Big Wigs Buying Up Foreclosures
Apartment Hunting Tips for Chicago’s Booming Spring Rental Market
Mortgage Rates Below 4 Percent For Three Months
Increasing Rents Could Be Good For Home Sales- Obama Reduces Refinance Fees For FHA Loans
- A Home From Ikea for $86,500
- Live in MJ’s Home For Just $29 Million
- Buying Is More Affordable Than Renting with Rent-to-Own Programs
- 3.9: Mortgage Rates Settle Back Down
- Wall Street Big Wigs Buying Up Foreclosures
- Apartment Hunting Tips for Chicago’s Booming Spring Rental Market
- Mortgage Rates Below 4 Percent For Three Months
- FHA Mortgage Insurance Premiums to Increase on April 1
- Increasing Rents Could Be Good For Home Sales
What Are Chicago’s Most Hipsterific Neighborhoods?
Finding a Summer Sublet in Chicago: Part One
Finding a Summer Sublet in Chicago: Part Two
Hoop it Up! Chicago Properties with Indoor Basketball Courts
A Look Inside Theo Epstein’s Gleaming White Southport Corridor Mansion
20 Percent Down Payments Required?
Home Alone House Listed for $2.4 Million