Inside Lending Newsletter From Kristen Zorda, Home Price to Grow in 2014
QUOTE OF THE WEEK… “Everybody thinks they are right.”–Stefan Sagmeister, New York-based graphic designer and typographer
INFO THAT HITS US WHERE WE LIVE… This week, those who think they’re right in believing the housing market has shrugged off its recent slump could present fresh evidence. Pending homes sales in May surged 6.1% over the month before, according to the National Association of Realtors (NAR). This index of contracts signed on existing homes indicates that sales of those properties should move ahead nicely a couple of months out. It was also good to see all four regions of the country posted increases in pending sales.
The NAR’s chief economist projected: “Sales should exceed an annual pace of 5 million homes in some of the upcoming months behind favorable mortgage rates, more inventory, and improved job creation.” In fact, the inventory of existing homes was up 2.2% in May as sales gained 4.9% and, according to Freddie Mac, national average rates on 30-year fixed-rate mortgages recently posted their first annual decline in more than a year. NAR projections show the national median existing home price growing 5% to 6% this year and 4% to 5% in 2015.
BUSINESS TIP OF THE WEEK… It’s not about what you get, it’s about what you give. Focus on giving your clients more and the rewards will follow.
Orson B.Klender, Associate Broker
Keller Williams Realty Saratoga Springs
38 High Rock Ave, Saratoga Springs, NY 12866
Connect with me…..
Cell: 1 (518) 588-2319 ~ Fax: 1(866) 588-6066