Now that home prices have stabilized and shown consistent year-over-year growth, we have a new topic to worry about: lack of real estate supply on the market.?With just 1.82 million existing homes on the market in December, the U.S. has the fewest properties for sale since 2005 ? representing 4.4 months of supply (at current sales pace).
As a result, existing home sales declined in December by 1.0 percent, to a seasonally-adjusted 4.94 million pace, according to the National Association of Realtors.
The median sales price rose 0.8 percent to $180,800, which represents a year-over-year improvement of 11.5 percent. The price improvement is partially motivated by increased demand amidst declining supply.
We would expect for new home sales to improve as construction activity increases. The new home sales report will come out this Friday (1/25). For now, we don?t think the numbers will prove to hamper continued improvement of the real estate market. We expect that given time, the market will correct itself. With prices improving and demand on the rise, we would expect for investors and home homeowners to ramp up property sales (and fetching better prices), while home builders have more incentive to invest in construction projects.
?
Central Coast Lending is a California mortgage brokerage based in San Luis Obispo County. With offices in San Luis Obispo, Morro Bay, Paso Robles, and Arroyo Grande, Central Coast Lending is the top source for Central Coast mortgage, real estate, and home loan needs. To see why using a broker offers lower rates and superior service, click HERE. For a free, hassle-free online pre-qualification click HERE or call 805.543.LOAN to talk to one of our expert loan officers.
zou bisou bisou tim tebow press conference tebow press conference trina rob dyrdek oberon donald driver
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.