2 posts tagged “resale home sales”
I am sitting here on an overcast day celebrating my annual vacation. It allows me the chance to slow down and contemplate the year both professionally and personally.
I was out this past Sunday looking at property with a client and I began seeing a trend. It started out like most Sunday Open Houses but it was also a little different.
WHY?? Well this particular Sunday was right after a Thanksgiving holiday, it was raining and if you are into sports there were alot of games on tv to keep people happy. And away from the tours.
After the second property I realized they were all VERY busy with couples and agents with clients filling most of the square footage of each, that I visited.
So knowing that both resale and new home sale numbers were coming out I watched in anticipation.
Well on 11/28 the NAR ( National Association of Realtors) reported a .5% increase in resale home sales but a decrease in the median price. Adversely, new home sales numbers were down so that is telling me that we are heading into a "stabilizing market".
With interest rates at approximately 6.18% currently, money is still cheap in the big picture terms but not as cheap as the bottom of the interest rate levels.
In my opinion, a wise buyer who sees a property that meets their needs is in a good position to make a wise investment NOW!!