The dictionary definition of inflation is a “substantial rise in the general level of prices related to an increase in the volume of money and resulting in the loss of value of currency.” In other words, inflation means you get less bang for your buck. And, according to a new outlook from Freddie Mac, it has shown signs it may be about to increase, which could have an impact on the housing market. “Which course inflation takes over the next year will have important implications for housing and mortgage markets,” says Sean Becketti, Freddie Mac's chief economist. If inflation heads higher – the outlook imagines - interest rates could also rise and lead to falling home sales and mortgage originations. The good news, however, is that Freddie Mac believes inflation will rise only modestly over the next two years. That's encouraging for potential home buyers worried about deteriorating affordability conditions. “With the housing market on the verge of the spring home buying season, this is good news in an environment where historically low mortgage rates will help offset the pace of house price growth and lack of for-sale inventory in many markets,” Becketti says. In short, there is a chance inflation could rise depending on upcoming trends and economic policy but, more than likely, the increase will be gradual and shouldn't affect housing market activity in the near term. The good news for the areas of New Bern, Havelock and Emerald Isle, NC, is that there are many new homes being built in these areas and there is a good job market. These homes are priced moderately and therefore are selling at a rapid rate. With spring coming up and a good home inventory, these areas will continue to be popular areas to buy a home in. To see some of the homes available go to: http://www.firstcarolina.com/listings/. More here.
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