Low mortgage rates are helping to make homes more affordable. It appears home buyers have taken notice.
Tag Archive: Existing Home Sales
Mortgage rates fell to a new all-time low last week. Not everyone can get access, however.
After a series of worse-than-expected data last month, the housing market appears to be back on track.
In March, for the second straight month, home resales slipped nationwide.
Despite sparse home inventory, the National Association of REALTORS reports that 4.59 million “existing homes” were sold in February on a seasonally-adjusted, annualized basis.
The Pending Home Sales Index resumed its climb in January, posting a 2 percent gain over the month prior.
January’s home resales moved to a 20-month high — additional evidence that the nation’s housing recovery is underway.
According to data from the National Association of REALTORS®, on a seasonally-adjusted, annualized basis, December’s Existing Home Sales climbed by 120,00 units overall from the month prior on its way to an 11-month high.
The outlook for the U.S. economy improved last week, taking the mortgage bond market with it. For the first time this year, conforming mortgage rates rose from one week to the next.
Low home prices and mortgage rates have combined to push home affordability to record levels nationwide. Home buyers are taking advantage.