Good Monday Morning!

Nationally, home sales continue on a path of decline. The latest statistics show that pending sales are once again lagging. This is a good indication of continued issues with our economy. The bright spot in all of this is that mortgage interest rates have declined some and with the prices of homes declining, this is a window of opportunity for home buyers. Over the past several weeks we have found homes for buyers at prices that are far less than several months ago. The combination of lower home prices and relief in mortgage rates has made monthly payments on these houses similar or less than they would have been earlier in the year. Currently, we are also seeing sellers buy the interest rates down or offer to pay closing cost for buyers. Good home purchase options are there if you know how to find them. The following is a recent article from"Realtor.com" talking about the current national Real Estate Market.

The numbers: U.S. pending home sales fell 4.6% in October, the fifth straight monthly decline, the National Association of Realtors said Wednesday.

Economists polled by the Wall Street Journal expected pending home sales to fall 5.5%.

The index captures transactions where a contract has been signed, but the home sale has not yet closed.

Key details: On a year-on-year basis, pending home sales were down a sharp 37%.

Sales fell in three of the four regions, with the Midwest registering an increase.

Big picture: Sales have stalled as mortgage rates have jumped, making houses less affordable. Pending home sales are a leading indicator for the sector. Some economists think that buyers might return to the market as mortgage rates have plateaued.

Have An Awesome Week!

Stay Healthy! Stay Safe! Remain Positive! Trust in God!

THIS WEEKS HOT HOME LISTING!

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Price: $498,000    Beds: 2    Baths: 2.0    SqFt: 1552

Cozy coast retreat located minutes from Harbor Vista Park! Freshly painted & updated ranch style home with luxury vinyl flooring. Two master suites with private baths. Perfect for owner occupied or a coast investment property. Large sunroom leads to a fenced backyard with raised garden beds, small shop with electrical and tool shed. Kitchen has stainless steel appliances...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!