Bloomberg News reports Housing and Urban Development (HUD) Secretary Shaun Donovan says home prices may start to increase as early as the third quarter, as the rate of foreclosures decline. Speaking on CNN, Donovan says, “The real question is when will we start to see sustainable increases. Some think it will be as early as the end of this summer or this fall.” He says defaults are declining, and home sales have gone up in six of the last nine months. Lenders need to encourage home ownership so people can realize the value of their investment over time, not overnight.
July 11 (Bloomberg) — The Federal Reserve may keep interest rates at record lows for the longest period since World War II as the economic slowdown that sparked a four-month bond rally worsens, according to Treasury market signals.
This means that there has literally never been a better time to buy a new manufactured or modular home than now, before the housing prices rise. Centennial Homes has striven to keep our prices as low as possible while still providing the highest quality product and the best service in the industry. We encourage you to visit your local area model home center today and discover just how affordable our homes can be for you.
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