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March existing-home sales almost 6% above a year agoApril 21, 2017Severe housing shortages are prompting existing homes to sell significantly faster this year, propelling home sales to the highest pace in more than a decade, the National Association of REALTORS® reported Friday. Total existing-home sales, which include completed transactions for single-family homes, townhomes, condos, and co-ops—reached a seasonally adjusted annual rate of 5.71 million in […]
Mortgage rates at a new 2017 low this weekApril 14, 2017The 30-year fixed-rate mortgage continues to drop this week, setting a new low for 2017, Freddie Mac reports in its weekly mortgage market survey. This marks the fourth consecutive week that 30-year rates have fallen. Freddie Mac reports the following national averages with mortgage rates for the week ending April 13, 2017: 30-year fixed-rate mortgages averaged 4.08 percent, with an average 0.5 […]
Housing inventory is the worst everMarch 28, 2017The number of homes for sale is at the lowest level on record, according to the National Association of REALTORS®, who began tracking inventory 18 years ago. That means many home buyers likely will find fewer options this spring, and the homes that are being listed tend to sell fast and at a premium. The lack of new-home supply is one culprit. Housing starts are only at about 75 percent of their […]
