Existing Home Sales Slowed by a Lack of Listings
Some Highlights:
-
The inventory of existing homes for sale has dropped year-over-year for the last 29 consecutive months and is now at a 3.9-month supply.
-
Existing home sales are currently at an annual pace of 5.48 million, the highest pace since June of this year, but down 0.9% from October 2016.
-
NAR’s Chief Economist, Lawrence Yun, had this to say: “While the housing market gained a little more momentum last month, sales are still below year ago levels because low inventory is limiting choices for prospective buyers and keeping price growth elevated.”
To view original article, please visit Keeping Current Matters.
Home Prices Are Rebounding
Experts believe one of the reasons prices didn’t crash like some expected is because there aren’t enough available homes for the number of people who want to buy them.
Momentum Is Building for New Home Construction
If you’re looking to move right now, reach out to a local real estate professional to explore the homes that were recently completed.
Reasons Your Home May Not Be Selling
If you’re thinking of selling, lean on your real estate agent for expert advice based on your unique situation and feedback you get from buyers throughout the process.
Today’s Housing Inventory Is a Sweet Spot for Sellers
Buyers have fewer choices now than they did in more normal years, and that’s continuing to impact statistics in the housing market.
Evaluating Your Wants and Needs as a Homebuyer Matters More Today
So, if you’re looking to buy a home, take some time to consider what’s truly essential for you in your next house.
Where Will You Go If You Sell? Newly Built Homes Might Be the Answer.
New home construction is up and is becoming an increasingly significant part of the housing inventory.
Why Homeownership Wins in the Long Run
It’s important to think about the long-term benefits of homeownership when deciding whether or not to buy a home.
The True Cost of Selling Your House on Your Own
When it comes to selling your most valuable asset, consider the invaluable support that a real estate agent can provide.
What Homebuyers Need To Know About Credit Scores
Your credit score is one of the most important factors lenders consider when you apply for a mortgage.
Why the Median Home Price Is Meaningless in Today’s Market
Using the median home price as a gauge of what’s happening with home values isn’t worthwhile right now.