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Realtor open houses set for April 28-29

April 22, 2012

With plentiful inventory and record-breaking housing affordability conditions, Realtors expect this year’s spring home-buying season to be a busy one.

To kick off the season, Realtors from coast to coast will host thousands of open houses as part of the Realtor Nationwide Open House Weekend. On April 28 and 29, Realtors in Washington County will hold open houses all weekend, bringing buyers and sellers together.

“This nationwide event offers buyers the chance to visit some of the many homes in their local area while learning more about homeownership,” Darwyn Benedict, president of Pen-Mar Regional Association of Realtors Inc., said in a news release. “Open houses are also an opportunity for Realtors to connect with consumers in their communities about the housing issues that matter most to them.”

Realtors will be available at open houses to answer consumer questions about the home-buying process and local market conditions.

According to research from the National Association of Realtors, or NAR, more renters than ever aspire to become homeowners and an overwhelming majority of Americans believe buying a home is a solid financial decision.

Earlier this year, the NAR reported that housing affordability conditions reached the highest level since record keeping began in 1970.

The housing affordability index is based on the relationship between the median home price, median family income and the average mortgage interest rate.

The index reached 206.1 in January, the first time the index broke the 200 mark. The higher the index, the greater the household purchasing power. This means the typical family has roughly double the income needed to purchase a median-priced home.

For information about some local participants, go to www.penmarrealtors.org or http://openhouses.longandfoster.com.            

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