Posts Tagged real estate news

Pending Home Sales Post Surprising Drop in November

small green house

Sales contracts for previously-owned homes in the U.S. unexpectedly dropped in November, marking the second month of declines. The index of pending home sales fell 0.7 percent month-over-month in November, according to recent data released by the National Association of Realtors in Washington. The index fell 7.7 percent from a year ago (on an unadjusted basis), following a downwardly revised 4.7 percent slump in October. Economists polled by Reuters had forecast pending home sales to rise 0.7 percent last month. These weaker results point to continuing challenges the market faces: higher mortgage rates and elevated home prices. These factors could

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Housing Inventory Gets a Boost in November

Housing inventory in the U.S. increased in November, shifting the balance of supply and demand more toward home buyers’ favor. According to a recent report from Redfin, the inventory of available residential real estate gained 5 percent in November when compared to the same time last year. Meanwhile, home prices increased 3.3 percent in November year-over-year to a median of $298,800. November marked the third straight month of annual home price gains under 4 percent after a 77-month  streak of yearly price gains exceeding 4 percent. “The tide has turned,” said Redfin chief economist Daryl Fairweather. “Sellers are now competing

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Why You Should Sell Your Home in 2019

Could the new year ahead be the year for home sellers? While not many experts are predicting record-shattering prices, 2019 could still be an excellent time to put your home on the market. Here’s why: 1.) New Buyers Entering The Market While it won’t be uncommon to see periodic drops in buyer activity — especially since mortgage rates have been poised to increase — but make no mistake, buyers who are ready to make a purchase will come out. New buyers are beginning to enter the market at a more determined pace, and with home prices leveling off throughout much of

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