Welcome to the LITopAgent.com Blog

2019-10-30 08:06:05
Pending Sales Surprise, Up 1.5 Percent
Share This Post Now!
 

For the second straight month, pending sales ticked up, growing 1.5 percent in a surprise turnout, according to the latest National Association of REALTORS® (NAR) Pending Home Sales Index, based on contract signings. Compared to last year, pending sales surged 3.9 percent.

Credit: National Association of REALTORS®

“Even though home prices are rising faster than income, national buying power has increased by 6 percent because of better interest rates,” Lawrence Yun, chief economist at NAR, says. “Furthermore, we’ve seen increased foot traffic as more buyers are evidently eagerly searching to become homeowners.

“Going forward, interest rates will surely not decline in a sizable way, so the changes in the median price will be the key to housing affordability—but home prices are rising too fast because of insufficient inventory,” Yun says. “In addition to boosting traditional home-building, we should explore a greater utilization of modular factory-constructed homes, converting old shopping malls or vacant office space into condominiums, permitting more accessory dwelling units, and other supply-increasing actions, in order to meet the rising demand for new housing.”

According to data from realtor.com®, including in NAR’s update, active listings jumped in Fort Wayne, Ind.; Pueblo, Colo.; Columbus, Ohio; and Topeka, Kan., in September.

 
Blog Archive
2020-02-03 08:26:10
Market Movement

2020-02-03 08:04:48
Economic Roundup February 2020

2020-01-30 11:10:10
5 myths surrounding home loans

2020-01-29 13:29:03
Cost vs. Value: 2020 Home Improvement Projects With the Highest ROI

2020-01-27 08:13:06
Housing is Healthy Heading Into 2020

2020-01-24 08:48:40
What Happens at Closing?

2020-01-20 12:30:23
Inspections vs. Appraisals vs. AVMs

2020-01-20 12:28:39
Credit Scores Demystified

2020-01-09 14:29:00
A quick guide to home loans on investment properties

2020-01-09 14:27:25
What will 2020 Bring for Borrowers?

2020-01-08 10:55:31
4 Resolutions for Home Improvements to Make in 2020

2020-01-08 10:54:12
4 Things NOT to Do When Putting Your Home on the Market

2020-01-03 07:01:20
Economic Roundup January 2020

2019-12-20 09:53:47
FROM ONLINE TO IN STORE: HOW TO CRAFT THE PERFECT HOLIDAY SOCIAL MEDIA MESSAGES

2019-12-13 07:55:34
How to know when refinancing is a good or bad idea

2019-12-11 08:50:10
Exploring the benefits of VA home loans

2019-11-25 09:22:55
Market Movement November 2019

2019-11-21 08:45:55
Easy Ways to Give Back During The Holidays

2019-11-20 10:50:13
REAL ESTATE NEWS

2019-10-31 12:05:18
Your mortgage refinance checklist:

2019-10-30 08:06:05
Pending Sales Surprise, Up 1.5 Percent

2019-10-28 09:03:58
Learn About Your Local Neighborhood -- Or One You're Considering

2019-10-28 09:03:08
The Myth of the 20% Down Payment

2019-10-25 12:10:04
2020 Housing Market: What the Experts Think

2019-10-24 12:14:26
How to decide to remodel your home or sell it

Click here to see ALL articles.


Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.