From Name

From Email

To Name

To Email

Message

Entry level homes may see prices rise due to shortage, low mortgage rates

from Houston Chronicle

Entry level homes may see prices rise due to shortage, low mortgage rates Houston Chronicle Unlike during the Great Recession, the current recession is unlikely to reduce prices of entry-level homes, Mark Dotzour, who served as the chief economist of the Texas A&M Real Estate Center for 18 years, said in a presentation to HomeVestors franchises Wednesday morning. HomeVestors franchises — known for their slogan, "We buy ugly homes" — are on track to buy more than 900 homes this month, down slightly from their average of roughly 1,000 a month. Instead, a shortage of homes priced for first-time homebuyers and record-low mortgage rates will likely lead to prices rising, Dotzour said. READ MORE

more