What the numbers mean for the housing industry.
Good Monday Morning!
The most recent report from the National Association of Realtors shows that the national median existing home price for the month of June increased 13.5% from June of 2012. This also was the 16th straight month of year-over-year price increases. At the end of June, total housing inventory also rose 1.9% and represents a 5.2 month supply which is still 7.6% lower than a year ago. Home mortgage rates are once again stable after Federal Reserve Chairman Ben Bernanke testified at the House Financial Services hearing last week. With unemployment still high, he stated that monetary policy will remain "highly accommodative". This means no changes in the near future. This is great news for housing industry that remains on the edge. A tick up with interest rates could send housing into another slump.
Have An Awesome Week!
THIS WEEKS HOT HOME LISTING!
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2750 Grand Cayman Dr
Gorgeous Home with Lots of Options! High ceilings, recessed lighting, lots of storage throughout, bonus room, office, library, formal dining room, plus well-sized laundry/mud room. Great room with living room, fireplace, built-ins, kitchen with larg...
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AND HERE'S YOUR MONDAY MORNING COFFEE!!
Sincerely,
Galand
