Three Reasons To Buy a Home in Market ShiftSome HighlightsThe housing market is moving away from the frenzy of the past year and it’s opening doors for you if you’re thinking about

https://www.bing.com/videos/search?q=free+video+of+orange+county+ca&docid=608013394750690116&mid=2A3BBE6BE2978CF74E102A3BBE6BE2978CF74E10&view=detail&FORM=VIRE
Dated: September 23 2020
Views: 77
Last week, the National Association of Home Builders (NAHB) reported their Housing Market Index (HMI) hit an all-time high in the 35-year history of the series with a score of 83. The index gauges builder perceptions of current single-family home sales and sale expectations for the next six months, as well as the traffic of prospective buyers of new homes.
As the following chart shows, confidence dropped dramatically when stay-in-place orders were originally mandated earlier this year. Since then, it has soared back.Looking at the three-month moving averages for HMI scores, confidence increased in every region of the country:
This confidence is definitely warranted. According to a recent NAHB report, single-family housing starts increased 4.1% to a 1.02 million annual rate, and single-family permits increased 6% to a 1.04 million unit rate, meaning newly constructed homes are on the rise.
A separate report from the Mortgage Bankers Association (MBA) shows mortgage applications for new home purchases increased by 33.3% compared to a year ago. Joel Kan, Associate Vice President of Economic and Industry Forecasting at MBA, commented on the numbers:
"The housing market continued to exceed expectations in August, as housing demand for new homes stayed strong and the job market continued to recover…The new home market has maintained its path of recovery throughout the summer, and record-low mortgage rates and households seeking more space will likely continue to drive demand into the fall."
If you’re thinking about putting your house on the market but are afraid you may not find a home to buy, let’s connect to discuss new construction opportunities in our area.
If you would like to buy a new home, give me a call and see how you can get your upgrades paid for. 949-244-0444
Looking for a Pro? Someone who will listen, negotiate and get the home you are looking for with the least amount of stress? I have been successfully working for buyers and sellers in Orange County for....
Three Reasons To Buy a Home in Market ShiftSome HighlightsThe housing market is moving away from the frenzy of the past year and it’s opening doors for you if you’re thinking about
Affordability Issues affecting your home purchase today.You can’t read an article about residential real estate without the author mentioning the affordability challenges that today’s
Some HighlightsIf you’re deciding whether to rent or buy, consider the many financial benefits that come with owning a home.As a renter, you build your landlord’s
Having an experienced guide coaching you through the process of buying or selling a home is important in a normal market – but today’s market is far from normal. As a result,