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.

    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.

    Content previously posted on Keeping Current Matters

    Rajeev Vashist

    Serving Northern Virginia real estate needs for over 27 years – Rajeev Vashist has built his reputation through surpassing his clients’ expectations at every turn. Whether they are buying or selling, his knowledge of the local market is unparalleled and has proven to be advantageous in every transaction for his clients. Rajeev provides each client with extraordinary customer care and services, always implementing –cutting-edge technology in the process, which has earned him raving reviews from his past clients. His passion for real estate and focused determination has helped him excel in his career and afforded him with numerous achievement awards. Rajeev is recognized for consistently placing in the top one percent of all real estate professionals in America. Specializing in navigating the ups and downs of the Northern Virginia Real Estate market, his integrity, dedication, insight, and hard work are only a few of the reasons that over 98 percent of Rajeev’s business comes from repeat clients and referrals. His clients acknowledge the value of his unending, local expertise, negotiation skills, and exceptional personal attention– the level discriminating clientele expect and deserve.
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