“After all is said and done, more is said than done.“
Aesop, Greek story teller
INFO THAT HITS US WHERE WE LIVE… Plenty was being said last week about Existing Homes Sales, down 3.2% for October. The talk among some analysts was that the drop indicates a slowdown in the housing recovery. But October sales appear to have been somewhat affected by the government shutdown (remember that?), with closings delayed because the IRS couldn’t verify income. Even with that, October posted the fifth highest level for any month since late 2009, when the homebuyer tax credit was about to go away. In fact, October sales came in at a 5.12 million annual rate, up 6% from a year ago.
The National Association of Realtors (NAR) feels a lack of inventory is holding down sales, However, the median existing home price is up 12.8% over a year ago, which should bring more sellers into the market. Rising prices also make buyers more willing to commit than when they feared values could keep dropping. Plus, the National Association of Home Builders confidence index held at 54 in November, near its highest levels in eight years, which should boost the new home supply. For the week ending November 15, mortgage applications for purchase loans jumped 6%
If you are thinking of buying or selling or both, contact us, The Snyder Group at Keller Williams Realty Las Vegas, where we will promise to make your home buying and selling a pleasant experience from start to finish. We ar
e a team of specialists designated to be of service to you in all areas of the transaction.
We can be reached at 702-323-0904 or at www.findlasvegasproperty.com