Some Highlights: Existing home sales are currently at an annual pace of 5.81 million, the highest pace since December 2006. The inventory of existing homes for sale has dropped
Rents Skyrocket To Highest Level In Almost A Decade
The Consumer Price Index (CPI) was released by the Labor Department last week. An analysis by Market Watchrevealed the cost of rent was 3.8% higher than a year ago for the second straight month in June. That's the strongest yearly price gain since 2007.
This coincides with a report released earlier this month in which AxioMetrics announced that rents are continuing to increase in 2016. The report revealed:
Here is a graph to illustrate the rate of increase over the last several years:
With rents continuing to rise and mortgage interest rates still at historic lows, let's meet up today to determine if you could turn your monthly rental cost into a home of your own.
John Faber has lived in West Michigan his entire life and with strong family ties in the area, he takes his clients' needs to heart and treats them like family when helping them buy or sell a home. J....