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Existing home sales shot up 11.8% in February, heading back up over 5 million, all the way to 5.510 million annual rate.  This gain wipes out nearly a year of steady decline.

Also, the rate of increase in median home prices slowed to a mild 3.6% increase for the month.  So, wages are now growing nearly as fast as home prices, which, along with lowering mortgage rates, boosts affordability.

That might be why the National Association of Realtors HOME survey report says more folks say now is a good time to buy.- 37%, up from 34% in Q4 2018.  Mortgage applications, in fact were up for the week versus a year ago.

So, if you have been sitting on the fence - either as a buyer or seller, NOW WOULD BE A GOOD TIME TO ACT! 
Posted in:Home Sales and tagged: ResaleHomeSalesSpike
Posted by Roger Downward, Principal Broker on March 25th, 2019 10:21 AM


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