Pending home sales are increasing in US and this increased up to 5.3% in the last June. This news is a bad one for the average home sellers of US. This is because, the home sales that are pending are intended for foreclosed properties which will be sold at a discount rate by most of the lenders.
The regular home sellers will have to suffer a great due to this and they will have to fight against those competitors who are trying to undercut them. However the percentage of pending sales is expected to come down in the beginning of 2009.
The recent changes in US economy are making real estate and property mortgages expensive there. You can find that the mortgage lenders are planning to increase the fees and trying to stop buying of high-risk loans. They will charge a high risk interests for loans in the falling US mortgage market.
This will make buying of properties and real estate tougher in US. The mortgage credit will increase in cost and the availability of loans for real estate purposes will fall rapidly. The current issues in market place are the leading factors making mortgages expensive and difficult to obtain for the common people.
The property market in US is on the face of a fall. The price of houses in US is not marking a great growth in the recent years. It is heard that the there will be a retracement of property price in US and this will determine the future of US property market in the near future.
The current condition of US property market is one that favors the buyers more than the sellers. This is expected to bring about a condition where in those who are planning to come to US market to think too much. They will not be able to make a great profit there.