November’s Existing Home Sales report revealed that sales are now at an annual pace of 5.61 million which is “now the highest since February 2007 (5.79 million) and is 15.4% higher than a year ago (4.86 million).”
Total housing inventory (or the inventory of homes for sale) fell 8.0% from last month and is now 9.3% lower than November 2015.
Inventory has dropped year-over-year for the last 18 months.
The median price for all home sales in November was $234,900, up 6.8% from last year and marks the 57th consecutive month of year-over-year gains.
We have created a unique process to evaluate your mortgage needs and assist you in determining the right mortgage. Our Home Express Mortgage Plan is the answer to your home loan needs. This blog discusses the many topics surrounding mortgages and the housing market.
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