Local and National Real Estate Market Report Oct. 2016 James Potenza

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Real Estate Agent with Texas Buyer Realty LLC 536837

National market update


First-time Buyers Steer Existing-Home Sales Higher in September

WASHINGTON (October 20, 2016) — Existing-home sales rebounded strongly in September and were propelled by sales from first-time buyers reaching a 34 percent share, which is a high not seen in over four years, according to the National Association of Realtors®. All major regions saw an increase in closings last month, and distressed sales fell to a new low of 4 percent of the market.



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National housing indicators

Existing home sales (September)

5.47 millions units*

Existing home median price (September)

$234,200

Housing Starts (September)

1.047 millions units*

New home sales (August)

0.609 millions units*

*Seasonally adjusted annual rate. Source: NATIONAL ASSOCIATION OF REALTORS®.

National economic indicators

Home ownership

3rd Quarter 2016

63.5%

3rd Quarter 2015

63.7%

 

The homeownership rate of 63.5 percent was 0.2 percentage points (+/-0.5)* lower than the third quarter 2015 rate (63.7 percent) and 0.6 percentage points (+/-0.5)* high than the second quarter 2016 rate(62.9 percent).

New home sales

Sept 2016

+3.1%

Aug 2016

-7.6%

 

Sales of new single-family houses in September 2016 were at a seasonally adjusted annual rate of 593,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 3.1 percent (±16.2%)* above the revised August rate of 575,000 and is 29.8 percent (±23.4%) above the September 2015 estimate of 457,000.

Source: U.S. CENSUS BUREAU

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

This is such helpful information to share with consumers! I am sure it will make the phone ring for you. 

Nov 17, 2016 08:47 PM #1
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James Potenza

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