Thank to all of you we had a very good year last year. We hope you did too!
In 2015 we will be here to help you with all your Real Estate needs.
Some information to review:
INFO THAT HITS US WHERE WE LIVE… In the end, the past year provided a pretty decent prologue to this one. Let’s start with 2014’s final bit of housing data, in which the National Association of Realtors (NAR) reported Pending Homes Sales up 0.8% in November, a nice reversal from the prior month’s dip. Even better, that reading is 4.1% ahead of November 2013, the highest year-over-year gain since August a year ago. The NAR’s chief economist added, “With rents now rising at a seven-year high, historically low rates and moderating price growth are likely to entice more buyers to enter the market in upcoming months.”
An equally positive prologue to 2015 came when mortgage rates ended last year a whole percentage point below the original forecasts. An online publisher of financial data reported: “Even with average home price appreciation of 5%, housing is more affordable now, with lower monthly payments on a larger loan than one year ago, by virtue of lower mortgage rates.” They feel stagnant consumer incomes have held back the market and that “if wage growth materializes as expected in 2015, home sales will pick up as buyers’ reluctance slips away.” Finally, the S&P/Case-Shiller Home Price Index posted a 4.6% annual gain in October.
Hope to see you this year!