First Home, First Loan

Helping to make home ownership a pleasant reality
Find A Mortgage Now!
Find A Realtor Now!

Free Newsletter

The Real Estate Report

newsletter

Get Your Free Copy:

Email

U.S. Home Sales Rise For 3rd Straight Month

posted by Stephen Katz @ 1:18 AM
Monday, January 23, 2012

Real Estate Inventory Down 9.2%

Once again we see continuing improvement in the national real estate market, home sales in the U.S. are up again in December for the third straight month. For 2011 as a whole, sales of existing homes also rose significantly, with a 1.7% increase over 2010.

Inventories are shrinking as well as the total inventories in the U.S. dropped more than 9%.  Affordability of financing and lower prices continue looks to be the dominant driving force in the US real estate market starting to turn the corner.

 From Realtor Magazine:

“The latest monthly data shows total existing-home sales rose 5.0 percent to a seasonally adjusted annual rate of 4.61 million in December from a downwardly revised 4.39 million in November, and are 3.6 percent higher than the 4.45 million-unit level in December 2010. The estimates are based on completed transactions from multiple listing services that include single-family homes, townhomes, condominiums and co-ops.

For all of 2011, existing-home sales rose 1.7 percent to 4.26 million from 4.19 million in 2010.

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to another record low of 3.96 percent in December from 3.99 percent in November; the rate was 4.71 percent in December 2010; recordkeeping began in 1971.

Total housing inventory at the end of December dropped 9.2 percent to 2.38 million existing homes available for sale, which represents a 6.2-month supply at the current sales pace, down from a 7.2-month supply in November.

Available inventory has trended down since setting a record of 4.04 million in July 2007, and is at the lowest level since March 2005 when there were 2.30 million homes on the market.”

 

Stephen Katz

(770) 309-0939 (direct) or (866) 742-8400 —

For the past 18 years, Stephen Katz has built a successful business almost entirely on referrals. As your mortgage consultant throughout the home loan process, Stephen will explain the pros and cons of all available mortgage programs and help you choose the financing option that is best suited to your needs.
Throughout the loan process, he will keep you informed and will respond quickly to your requests with answers and solutions.

Consistently a top producer, Stephen is a Mortgage Bankers Association “Diamond” Award winner, a Georgia Mortgage “Top Gun” and has closed almost half a billion dollars in loans. Put his knowledge and experience to work for you!

More Posts - Website

Comments are closed.

First Home, First Loan is proudly powered by WordPress