Home Sales Continue To Rise, Why?
June 27, 2018
According to USA TODAY:
The ongoing trend we see is that people are buying new homes because of the layouts, floor plans, and amenities including smart homes. Based on the lack of inventory, as noted in the article, these homes are more attractive to buyers. Pictured above, the living room of our latest sale that sold before it hit the market!“For the first five months of this year, new-home sales have risen 8.8 percent as a solid job market and shortage of existing homes on the market have boosted demand. In a sign that buyers are eagerly seeking out properties among a diminished inventory, there was a 17.4 percent surge last month in the sale of homes before construction begins.
Buyers are also facing additional pressures as home values are generally rising faster than incomes and average 30-year mortgage rates have risen to 4.57 percent from 3.90 percent a year ago. Both of these factors are increasing the monthly costs for repaying home loans.”
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AKG | Christie’s International Real Estate is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01527644. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale, or withdrawal may be made without notice. No statement is made as to the accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.