Home prices are expected to rise in the next 12 months by over two-thirds (68 percent) of people that say they are considering buying a home in the coming year, according to a LendingTree survey.
First-time home buyers dominate the market with fifty-seven percent (57%) of the survey respondents being first-time buyers. .
“The housing market is stabilizing and financing is becoming more available for potential home buyers,” said Doug Lebda, founder and CEO of LendingTree.com. ”Increasing home prices are providing would-be sellers with the confidence needed to take action, while rising interest rates are placing a sense of urgency on potential home buyers. Together this creates a unique window of opportunity for buyers and sellers to take advantage of the market while home prices and rates are still reasonably affordable.”