September 2015 Market Reports
The third quarter of 2015 has ticked its last tock with the hands pointing firmly upon a reliable clock of a market. Although noon and 6:30 fluctuations are present even within the same states and cities, the overall tempo of real estate potential is experiencing a healthy number of good omens. The job market has shown continual improvement, jobless rates are down, real average hourly and weekly earnings have been up and there has been good news in new household formation.
New Listings were down 0.6 percent for single-family homes but increased 2.5 percent for townhouse-condo properties. Pending Sales increased 6.7 percent for single-family homes and 8.9 percent for townhouse-condo properties.
The Median Sales Price was down 0.8 percent to $197,500 for single-family homes but increased 2.6 percent to $189,750 for townhouse-condo properties. Months Supply of Inventory decreased 18.4 percent for single-family units and 17.7 percent for townhouse-condo units.
With positive economic news coming from many angles, there are no imminent factors to prepare for beyond the typical seasonal drop-off. From the mouths of market-analyzing pundits, we are in the midst of one of the healthiest housing markets in the past 15 years. The one thing we were anticipating in September, an increase in interest rates, did not happen. It most likely will before year’s end. Until then, get out and enjoy the season.
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