Monthly archive for November 2017

Pending home sales make a surprising rebound

House with Sold Sign

Pending home sales made their first major improvement in October, beating even the most optimistic of outlooks. According to a recent press release, the National Association of Realtors’ (NAR) Pending Home Sales Index (PHSI) jumped 3.5 percent compared to September, to a reading of 109.3. Originally predicted to clock in at 106.0, the latest reading exceeds the revised prediction of 105.6. This puts the PHSI at its highest level since June.

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Seasonal slowdown in full-swing? Mortgage applications drop in latest MBA survey.

Housing chart with blue arrow

The results of the Mortgage Bankers Association’s latest weekly survey revealed a drop in mortgage application activity for the week ending November 24, 2017. According to the MBA’s press release, mortgage applications fell 3.1 percent from one week earlier. This includes an adjustment for the Thanksgiving holiday, which fell on November 23. How does the survey work? The MBA’s weekly mortgage application survey is used to determine the Market Composite Index, a measure of mortgage loan application volume. The MBA uses the index to gauge how many Americans are applying for home financing and how the volume of applications compares

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Buying a home this winter? Here are three things to keep in mind.

Home in Winter

Winter is typically the slow season when it comes to real estate. But buying a home during this time can have its benefits. If you’re thinking of making a home purchase between now and next spring, here are a few things to keep in mind. Home prices may be lower. There may be fewer homes on the market during the winter season, but the homes that are on the market might be available at a lower price point than they would if they were being listed during the prime spring and summer months. Buyer traffic slows down during this time,

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