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3 Signs the Housing Market Is on the Rebound

3 Signs the Housing Market Is on the Rebound | Simplifying The Market

The residential real estate market has been plodding along for most of the year. However, three recent reports show the market may be on the verge of a rebound.

1. Existing Home Sales (closed sales) are up, marking two consecutive months of growth.

2. Pending Home Sales (contracts signed) are up with each of the four major regions reporting both month-over-month growth and year-over-year gains in contract activity.
Here is the month-over-month growth:

  • The Northeast rose 0.7%
  • The Midwest increased 0.6%
  • The South increased 1.4%
  • The West grew 3.1%

3. Buyer Traffic (the number of people shopping for a home) is up compared to the same time last year, and for the first time in 13 months.

  • The Northeast is up 5.9%
  • The Midwest increased 1.3%
  • The South is up 2.7%
  • The West grew 2.2%

In their most recent report, ShowingTime Chief Analytics Officer, Daniil Cherkasskiy explained:

“The trend we saw in year-over-year buyer traffic in previous months continued across the United States. For all four regions there were more showings per listing this year compared to last year, making it the most competitive August in the last five years.”

Lawrence Yun, Chief Economist with the National Association of Realtors, believes the uptick in activity will continue into the future:

“It is very encouraging that buyers are responding to exceptionally low interest rates…With interest rates expected to remain low, home sales are forecasted to rise in the coming months and into 2020.”

Bottom Line

If you are thinking about selling your house, there are purchasers out there who are ready, willing, and able to buy.

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josephinetraina
josephinetraina
Josephine’s passion for the beauty and history of Charleston and her depth of knowledge of Charleston’ real estate inventory have made her the Broker of choice for incoming residents of the “Holy City”. As a MD Preferred REALTOR and DRS Agent, she is an advocate for medical professionals, assisting them and their families, guiding them to make an informed decision and excellent real estate investment. As a former Relocation Director, she has an intimate knowledge of the industry and understands what consumers need when relocating to a new city. With over 25 years in the real estate industry and a Broker in the States of South Carolina, Georgia, she handles first-time home buyers to seasoned investors, from historic homes, beach bungalows or condos or lofts. Dedication to understanding clients’ individual needs, putting each client at the center of the process and providing exceptional real estate experiences are the mainstay of her business. Josephine’s goal is to deliver superior service with insight and innovation, realizing that “Owning A Piece Of The America Dream” is the heart of everything we do. As a former managing Broker and Business Development Manager, her focus is on marketing, negotiating the sale and keeping on top of all of the little details that bring a client's transaction to a successful close. She continues to educate herself and hone her skills in order to provide the highest level of professionalism to her clients.

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