National housing market indicators available as of June show activity in housing markets overall improved.
— U.S. Department of Housing and Urban Development
The median price of previously owned (existing) homes reached $264,800 in May, an all-time high! This was 4.9% higher than a year ago and marked the 75th straight month of YoY gains.3
New vs. Existing Home Sales (thousands)4
Despite high demand, today's homebuilders face a number of challenges that may impact future sales.
Home Values Now 16% Higher Than Pre-Recession Peak7
Homeowner Equity Continues to Grow4
The number of underwater mortgages is shrinking. Now may be a great time for homeowners to tap into their equity!
There's no better time to buy than now. I'm happy to discuss the benefits of homeownership and building equity with your clients. Contact me to discuss teaming up to improve both of our bottom lines!
Sources: [1] U.S. Census Bureau, Monthly New Residential Sales, May 2018. [2] U.S. Census Bureau, Monthly New Residential Construction, May 2018. [3] National Association of Realtors® (NAR), Existing-Home Sales, May 2018. [4] U.S. Department of Housing and Urban Development, Housing Market Indicators Monthly Update, June 2018. [5] NAHB, Eye on Housing, June 2018. [6] Joint Center for Housing Studies of Harvard University, The State of the Nation's Housing report, 2018. [7] Federal Housing Finance Agency (FHFA) purchase-only index, April 2018.
This is for information purposes only and is not an advertisement to extend customer credit as defined by Section 12 CFR 1026.2 Regulation Z. Program rates, terms and conditions are subject to change at any time.