Year over year August slipped compared to 2013.
The homes that sold in August, closed at a slightly higher median sales price.
Homes that closed in August spent more days on the market than in 2013, but fewer than in previous years.
In spite of the apparent strength of the market, we are lagging behind sales totals from 2013.
There are more homes for buyers to look at this year as compared to a year ago.
Interest rates continue to be extremely favorable. We expect to see interest rates increase over the coming months. They are continue below historic averages, and offer an opportunity for today’s buyer to make their housing more affordable over the long term of ownership.
To discuss this or any other real estate issue, please contact Jan or Jay.