Housing Supply & Mortgage Rates are Down, While Demand is Up

The sun is out, birds are chirping, and prospective home buyers are venturing out to find the perfect home for their family. Home buying season starts around the same time every year, the difference this season is that there are 3 percent less homes available than last year across the country. “Low inventory, strong demand and tough competition will be defining characteristics of this year’s home shopping season,” according to Zillow Chief Economist Dr. Svenja Gudell. “Even though interest rates...

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Rate of New Home Sales Hits a 7-Month High in February

Even though mortgage rates have risen a bit and supply has dwindled, the data from February shows sales of newly constructed homes have hit their fastest pace since July 2016. The Commerce Department has been spreading the news today and the news is good for the housing market. According to the released figures, new-home sales ran at a seasonally adjusted annual rate of 592,000. Don’t worry if this figure doesn’t have you jumping for joy, the important thing to know...

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