ExistingHome Sales Skyrocket Toward 11Year High

Dated: 01/01/2018

Views: 38

According to a recent report by the National Association of REALTORS® (NAR) existing-home sales in November skyrocketed to a spree not seen in more than 10 years.

EExisting home sales Nov 2017xisting-home sales totaled 5.81 million, a 5.6 percent increase from October and a 3.8 percent increase from one year prior. Inventory decreased 7.2 percent to 1.67 million, 9.7 percent below one year prior.

The increased demand is being boosted by faster economic growth in recent quarters, the booming stock market and continuous job gains. Buyers showed no signs of uncertainty with the new tax plan; however, expectations of climbing interest rates motivated buyers to purchase earlier than they might have.

Interest rates are expected to rise next year which could cause low existing-home inventory levels to persist. Buyers prospects for becoming homeowners will only improve if more lower-priced and smaller-sized homes come onto the market and the increase in home builder optimism must translate to significantly more new construction in 2018 to help ease these acute inventory shortages.


Want to Advertise on this Site?

Latest Blog Posts

3 STORY HOMES WITH ELEVATOR STARTING 620K

Check out this UNBELIEVABLE Upscale home! 3 Stories with Elevator and Entire Master Suite Upstairs for Well Under 1 Million Dollars!  Exclusive offer: All Homes Purchased On the Lake

Read More

Furry Friday Chichi

ChiChi *F*'s Web PageTerrier / Mixed (short coat)  : :  Female (spayed)  : :  Senior About ChiChi *

Read More

Pool Maintenance Tips For Summer

                Owning a pool is sometimes compared to owning a boat, it provides the two happiest days of your life..

Read More

Open House WATERFORD LAKES 2 DAYS Starting TODAY

JOIN US TODAY FOR OPEN HOUSE AT THIS BEAUTIFUL HOME LOCATED IN SOUGHT AFTER WATERFORD LAKES  FROM 11 - 3. IF YOU CAN'T MAKE IT TODAY, WE WILL BE HERE AGAIN ON SUNDAY JUNE 10TH FROM-

Read More