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.
What You Should Know About Rising Mortgage Rates
If you stay the course, you’ll likely face less competition among other buyers when you’re looking for a home.
The Two Big Issues the Housing Market’s Facing Right Now
The biggest challenge the housing market’s facing is how few homes there are for sale. Here’s a look at why.
Spring into Action: Boost Your Home’s Curb Appeal with Expert Guidance
Remember to lean on your trusted real estate advisor for the best advice on the updates you should invest in.
Wondering What’s Going on with Home Prices?
U.S. house prices were largely unchanged in the last four months and remained near the peak levels reached last summer.
Why It’s Easy To Fall in Love with Homeownership
Over the last few years, we’ve fully embraced the meaning of our homes as we spent more time than ever in them.
What You Should Know About Closing Costs
Understanding what closing costs include is important, but knowing what you’ll need to budget to cover them is critical, too.
Number of Homes for Sale Up from Last Year, but Below Pre-Pandemic Years
Your house would be welcome in a market that has fewer homes for sale than it did in the years leading up to the pandemic.
How Experts Can Help Close the Gap in Today’s Homeownership Rate
Homeownership is an essential piece for building household wealth that can be passed down to future generations.
The Top Reasons for Selling Your House
If you also find yourself wanting a change in location, needing more space than your current house can provide or feel the need to downsize, it may be time to sell.
Experts Forecast a Turnaround in the Housing Market in 2023
As we move through 2023, there are signs things are finally going to turn around.