Total existing home sales were down in November when compared to the previous month and were also down from November of last year. However, distressed sales made up a much smaller portion of
the total in November than they did the previous year and by comparison conventional sales appear to have increased. Less-distressed sales are a positive sign for the market and shouldhelp potential sellers who no longer have to compete with as many discounted homes as they would have in recent years. Prices continued their modest seasonal decline in November, while still increasing compared to the same month of the previous year.Recent Federal Reserve policy changes will likely mean slightly higher interest rates moving into the New Year; however, market reactions so far have been positive and rates have edged up very slowly. Those considering purchasing a home may wish to take advantage of the current break in price gains and lock in mortgage rates as they continue to trend upward.
the total in November than they did the previous year and by comparison conventional sales appear to have increased. Less-distressed sales are a positive sign for the market and shouldhelp potential sellers who no longer have to compete with as many discounted homes as they would have in recent years. Prices continued their modest seasonal decline in November, while still increasing compared to the same month of the previous year.Recent Federal Reserve policy changes will likely mean slightly higher interest rates moving into the New Year; however, market reactions so far have been positive and rates have edged up very slowly. Those considering purchasing a home may wish to take advantage of the current break in price gains and lock in mortgage rates as they continue to trend upward.
Brought to you by KW Research. For additional graphs and details, please see the This Month in Real Estate PowerPoint Report.
The opinions expressed in This Month in Real Estate are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources. You should not treat any opinion expressed on This Month in Real Estate as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion. Keller Williams Realty, Inc., does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind. All information presented herein is intended and should be used for educational purposes only. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. All investments involve some degree of risk. Keller Williams Realty, Inc., will not be liable for any loss or damage caused by your reliance on information contained in This Month in Real Estate.
The opinions expressed in This Month in Real Estate are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources. You should not treat any opinion expressed on This Month in Real Estate as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion. Keller Williams Realty, Inc., does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind. All information presented herein is intended and should be used for educational purposes only. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. All investments involve some degree of risk. Keller Williams Realty, Inc., will not be liable for any loss or damage caused by your reliance on information contained in This Month in Real Estate.
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