Housing continues on an uptick in the United States despite the depressing headlines.
I just picked up a newspaper and saw the headline, “Foreclosures show no sign of decline.” If you only read the headlines, you’d think we’re still in the midst of a downward spiral. But you’d be mistaken.
A new Wall Street Journal interactive map digs down to granular level for a look at what’s going on state by state. Here’s the overview of some trouble states right now:
- Florida remains the worst in the country with an 18% delinquency rate overall, even though some coastal cities are close to recovery.
- Nevada, another bubble state, has a 13% delinquency rate.
- New Jersey has a 12% delinquency rate.
- Arizona is down to a delinquency rate of 6%, a dramatic improvement from where they were as one of the key bubble states.
Speaking of improvement, some 30 states are actually doing from somewhat well to really great. And the trend around the country is improving, with even California down a 6% delinquency rate. Here are other states also doing well:
- North Carolina has a 5% delinquency rate.
- Virginia has a 4% delinquency rate.
- Wyoming has a 2% delinquency rate
- South Dakota has a 2% delinquency rate.
- North Dakota has a 1% delinquency rate.
In many places, we’ve reached the point where short sales and foreclosures are getting multiple offers and asking prices are being bid up, not to where they were 6 years ago of course, but up still.
Supporting that upward trajectory is a new report that finds housing affordability is the best it has been since those stats have been kept. In general, it is a better idea to buy than to rent if you want to stay put in most areas.
I want you to get out there and take advantage of today’s great interest rates coupled with all the deals on housing!