Throughout the United States, home prices are climbing and this housing rebound is having an effect on other parts of our economy as well. As home prices rise, the wealth of households is increasing, which in turn is boosting the purchasing power of the average consumer. When consumers have more money to spend, more money gets spent, and the economy grows.

“The housing recovery will kick into a higher gear as the year progresses,” said Mark Zandi, chief economist for Moody’s Analytics Inc. “We’re going to get a lot of juice from the channels”, which is expected to have a positive effect on several other parts of our economy.

According to data compiled by Bloomberg, the housing market has helped lead the economy out of every recession since 1950 (with the exception of the last one from 2007-2009). This year, the housing rebound is expected to help the economy through various federal government spending cuts and tax increases. Michelle Meyer, a senior U.S. economist at Bank of America projects that property values will increase by 4.7 percent this year, 7.7 percent next year, and 5.2 percent in 2015.

With rising home prices and mortgage rates near a record low in the U.S., now is a great time for sellers. If you are thinking about selling your Orlando home, contact our Orlando title insurance company for reliable listing agent referrals, title insurance and escrow closing services. We are ready to help you through the entire real estate transaction process because we believe that our clients deserve the very best, personalized service. Give our Orlando title company a call at 407-615-8550 today!