3 Signs the Housing Market is on the Rebound

By
Real Estate Agent with Samsel & Associates 0790808

The residential real estate market has been plodding along for most of the year. However, three recent reports show the market may be on the verge of a rebound.

1. Existing Home Sales (closed sales) are up, marking two consecutive months of growth.

2. Pending Home Sales (contracts signed) are up with each of the four major regions reporting both month-over-month growth and year-over-year gains in contract activity.
Here is the month-over-month growth:

  • The Northeast rose 0.7%
  • The Midwest increased 0.6%
  • The South increased 1.4%
  • The West grew 3.1%

3. Buyer Traffic (the number of people shopping for a home) is up compared to the same time last year, and for the first time in 13 months.

  • The Northeast is up 5.9%
  • The Midwest increased 1.3%
  • The South is up 2.7%
  • The West grew 2.2%

In their most recent report, ShowingTime Chief Analytics Officer, Daniil Cherkasskiy explained:

“The trend we saw in year-over-year buyer traffic in previous months continued across the United States. For all four regions there were more showings per listing this year compared to last year, making it the most competitive August in the last five years.”

Lawrence Yun, Chief Economist with the National Association of Realtors, believes the uptick in activity will continue into the future:

“It is very encouraging that buyers are responding to exceptionally low interest rates…With interest rates expected to remain low, home sales are forecasted to rise in the coming months and into 2020.”

Bottom Line

If you are thinking about selling your house, there are purchasers out there who are ready, willing, and able to buy.

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~ Wayne & Jean 

Union County, NJ - a great place to live and work!

If you're looking to buy or sell a property in Union County, call us at 908-917-4189 or email TeamZuhl@gmail.com.

 

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All opinions, information and data provided is deemed reliable but is subject to errors and omissions. Not intended to solicit other Brokers' clients. We cooperate with them fully. 

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Rainmaker
3,339,802
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Wayne and Jean. When the pie gets smaller, cut a bigger piece. Enjoy your day!

Oct 11, 2019 05:02 AM #1
Rainmaker
1,711,230
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

good news - we are in the slow part here in the mid - Atlantic - so I  will wait for the better days to come - good thing about the market is that it is constantly changing

Oct 11, 2019 05:07 AM #2
Rainmaker
5,083,337
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Wayne and Jean Marie Zuhl share the stats and welcome potential buyers and sellers to read and understand the positive aspects of the market....NOW, is the time to participate.... NOW, is the time to buy and/or sell in your area and the only agents to call are Wayne and Jean Marie Zuhl.... but, I think most people already know this!!

Oct 11, 2019 05:08 AM #3
Rainmaker
1,968,300
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Wayne and Jean Marie Zuhl - thank you for the good news.  There are some areas that are hot all along but some have slowed down so this is great to hear.

Oct 11, 2019 06:23 AM #4
Rainmaker
4,135,114
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Wayne & Jean, great information to share with anyone contemplating a purchase or a sale.

Oct 12, 2019 03:26 PM #5
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