What to Provide for Mortgage Pre ApprovalIf you’re in the market for a home, particularly your first one, it’s advisable to meet with a mortgage lender at the beginning of the process. Having a
Existing Home Sales Slowed By A Lack Of Listings
Dated: November 23 2018
Existing home sales are currently at an annual pace of 5.22 million, which is up 1.4% over last month. This reverses the six-month trend of dips in sales every month.
The inventory of existing homes is still below the 6-month supply needed for a normal market and is now at a 4.3-month supply.
NAR’s Chief Economist, Lawrence Yun, had this to say: “After six consecutive months of decline, buyers are finally stepping back into the housing market. As more inventory enters the market and we head into the winter season, home price growth has begun to slow more meaningfully. This allows for much more manageable, less frenzied buying conditions.”
Contact Tricia Glover and The Glover Team at 540-846-0185 or visit our website at http://tglover.liveinfredericksburgva.com.
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