Inside Lending Newsletter From Kristen Zorda, Expected Increase For Price of Homes

QUOTE OF THE WEEK… “We are happy when we are growing.” –William Butler Yeats, Irish poet

INFO THAT HITS US WHERE WE LIVE… We were all very happy to see that Pending Home Sales grew for the second month in a row, up 0.4% in April. This National Association of Realtors (NAR) measure of contracts signed on existing homes indicates continued growth for these sales when contracts go to closing a couple of months out. The NAR’s chief economist sees a gradual gain in sales: “Higher inventory levels are giving buyers more choices, and a slight decline in mortgage interest rates this spring is raising prospective home buyers’ confidence. An uptrend in closed sales is expected.”

The NAR further projected that annual existing home sales should come in slightly below the almost 5.1 million closings we had in 2013, but then should hit nearly 5.3 million next year. The national median price for existing homes is expected to increase 5% to 6% this year and 4% to 5% in 2015. The S&P/Case-Shiller 20-City Composite Home Price Index continued rising in March, but at a slower 0.9% pace. However, the index is up 12.6% versus a year ago, and 19 of the 20 cities reported monthly gains. Most observers feel a moderation in price gains is healthy for the housing market.

BUSINESS TIP OF THE WEEK… Document your wins to help you duplicate your efforts and cut your prospecting time. Likewise, analyze your losses to fine tune your message and presentation.

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

 

Orson B.Klender,  Associate Broker

Keller Williams Realty Saratoga Springs
38 High Rock Ave, Saratoga Springs, NY 12866

www.RealEstateSaleSaratogaSpringsNY.com

www.OrsonKlender.com

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Cell: 1 (518) 588-2319 ~ Fax: 1(866) 588-6066

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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.

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