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Buying a home is now cheaper than renting in 4 out of 5 major U.S. cities. And, along with affordable home prices, low mortgage rates, and building economic confidence, the increase in rent makes market conditions ripe for prospective house hunters this spring and summer. Ken Shuman, of Trulia, said people looking to buy a house this summer should be encouraged by improvements in the market and feel optimistic about their chances of finding an affordable home, much more so than in previous years. Conditions are particularly good for buyers looking to stay in their home for at least five years. Because prices are expected to appreciate slowly, industry experts say the market is best for buyers looking to plant roots or find a family home. More here.
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