Existing-Home Sales Grow 2.0 Percent in October WASHINGTON (November 21, 2017) – Existing-home sales increased in October to their strongest pace since earlier this summer, but continual supply shortages led to fewer closings on an annual basis for the second straight month, according to the National Association of Realtors®. Read more
America Rediscovers It’s Love of the Front Porch In the 20th century, porches couldn’t compete with TV and air conditioning. Now this classic feature of American homes is staging a comeback as something more stylish and image-conscious than ever before.Read more
How to Sell Your House Fast: 5 Must-Know Tips to Move Your Property Ready to unload your abode and want to know how to sell your house fast? Our experts say these tips can help you find a buyer in no time. Read more
How to Pay Off Your Mortgage Early, but Why it Might Not be Wise. If you’re a homeowner, you’ve likely thought about how to pay off your mortgage early. These are the pros-and cons-of eliminating that home loan.Read more
National housing indicators
Existing home sales (Oct)
5.48 millions units*
Existing home median price (Oct)
1.290 millions units*
New home sales(Sep)
0.667 millions units*
National economic indicators
3nd Quarter 2017
2st Quarter 2017
The homeowner ship rate of 63.9 percent was not statistically different from the rates in the third quarter 2016 (63.5 percent) or the second quarter 2017 (63.7 percent).
New home sales
Sales of new single-family houses in October 2017 were at a seasonally adjusted annual rate of 685,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 6.2 percent (±18.0 percent)* above the revised September rate of 645,000 and is 18.7 percent (±23.5 percent)* above the October 2016 estimate of 577,000.
Local Board Statistics
New tax legislation could have ramifications on housing. The White House believes that the tax reform bill will have a small impact on home prices, lowering them by less than 4 percent, and could conceivably boost homeownership. The National Association of REALTORS® has stated that eliminating the mortgage interest deduction could hurt housing, as the doubled standard deduction would reduce the desire to take out a mortgage and itemize the interest associated with it, thus reducing demand. This is a developing story.
Average Sale Price $230,105
Median Sale Price $194,000
Average Days on Market 53
Months Supply 2.2
Inventory is low, sales are quick, so if you want to sell, give me a call and lets get that house sold!
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