Info That Hits Us Where We Live – Single Family Home Sales Jump!

QUOTE OF THE WEEK… “The only thing that should surprise us is that there are still some things that surprise us.” –Francois de La Rochefoucauld, French author of maxims and memoirs

INFO THAT HITS US WHERE WE LIVE… Some observers were indeed surprised to see sales of new single-family homes jumped 35% from December to January. This put them at a seasonally adjusted annual rate of 543,000, according to the Mortgage Bankers Association (MBA). Their chief economist explained, “While the big jump may appear to conflict with other data,…our Builder Application Survey estimate is consistent with reports of home builder sentiment that show strength in the market for new homes.” In line with this, the MBA put mortgage applications for new home purchases up 27% over December.

Also surprising, particularly to those fearing another home price bubble, the National Association of Realtors (NAR) reported that nationally, the NAR housing affordability index shows that, excluding the last five years, homes in the U.S. as a whole are still more affordable than at any time since at least 1981. This was part of an article in the Wall Street Journal, which also said that the NAR found, “…the monthly mortgage payment as a share of median incomes remains unusually low. On a payment-to-income basis, then, home prices still look undervalued.”

Kristen Zorda
Loan Officer
NMLS# 58751
648 Plank Rd. Suite 203
Clifton Park NY 12065
Office: 518-366-7999
PrimeLending, a PlainsCapital Company



Tags: , , , ,

About Real Estate Agent in Saratoga Springs

As an agent who's an expert in this local area, I bring a wealth of knowledge and expertise about buying and selling real estate here. It's not the same everywhere, so you need someone you can trust for up-to-date information. I am eager to serve you.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: