Researchers Foresee Heightened Residential Sales, Demand

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Mortgage and Lending with The Christian Penner Mortgage Team NMLS# 368289

Researchers Foresee Heightened Residential Sales, Demand

Residential salesResidential sales in Jupiter—in fact, all real estate dealings anywhere—remain the most local of commercial transactions. If your house is in San Francisco, a price spike in suburban Newark is probably of little interest, unless you plan on moving anytime soon. Even so, the new projection for overall U.S. residential sales had to perk up area homeowners’ interest.

The “best home sales market in eight years” was the forecast—along with “mortgage originations that will likely rise” and “larger gains in newly built home sales.” Palm Beach County residential sales may make up but a tiny fraction of the data contained in CoreLogic’s analyses and data announcements, but any Jupiter homeowners looking for a strong spring market couldn’t help but be buoyed by last week’s prognostications.

The basis for the surprisingly robust residential sales prediction was supported by a number of other data sources which have gradually confirmed solidification of the overall economic picture. With many economists agreeing that the U.S. economy “is poised to grow by close to 3%” this year, a heightened level of housing demand is bound to result. If that mark is achieved, it would be for only the second year in a decade. Gains in employment (in the 3-to-3½ million person range) are also expected.

The improving economic projection for 2015 was ascribed to three forces. The halving of energy prices which began last summer was deemed “unlikely to jump back up this year.” Anyone who’s been enjoying the freefall in prices at Jupiter pumps will appreciate the immediate impact that has on family wallets.

The second positive force is psychological, and very real. The rise “in consumer and business manager confidence” in the recovery has been widely noted: the Conference Board (“up 4.9 points”); U.F.’s Confidence Index (“the highest reading in 10 years”); Small Business Optimism Index (“3rd highest reading since 2007”).

CoreLogic’s third factor was one that hasn’t been much talked about until now: governmental. Apparently, tax receipts have been stronger than expected, freeing state and local governments to spend more. That’s an unexpected economic stimulus—and of a kind that should be more welcome than some of the previous “let’s just create more money” variety.

CoreLogic puts residential sales growth in the area of 5%. Will our Palm Beach County numbers match those projections? One reason to think so is the Jupiter mortgage rate phenomenon. Rates remain tantalizingly low—but apt to begin creeping upward. That’s the kind of spur to home buyers that is apt to work as effectively as merchants’ “limited time sale” technique: tick! tick! tick!

If you have been delaying wading into the Jupiter residential sales arena until the time is right, 2015 certainly looks like that time has arrived. I’m standing by to help you take advantage of the many opportunities this spring market is offering. Why not give me a call?

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Questions, Comments or For more information you can email Christian Penner at TheMortgageTeam@ChristianPenner.com or visit us online at www.ChristianPenner.com or you can call us directly at: Cell/Text: (561) 373-0987

The Christian Penner Mortgage Team | Cell/Text: (561) 373-0987 Mortgage Banker, NMLS#368289 a division of Equity Prime Mortgage NMLS #21116

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Real Estate Best Practices
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Florida Palm Beach County Jupiter
Tags:
residential sales
residentialsales

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Rainmaker
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Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

thanks for a very good market update - I always love to see what is going on in different parts of the country

May 05, 2015 10:26 PM #1
Rainer
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Christian Penner
The Christian Penner Mortgage Team - West Palm Beach, FL
Your Mortgage Lender - 561-316-6800 | 561-373-0987

You're Welcome!

May 05, 2015 10:34 PM #2
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Rainer
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