Millions of Americans may want to know what direction the domestic real estate market is heading. And, if previous months’ indicators are accurate, it’s heading positively. In fact, home sales continue on a strong trend, in all four domestic sectors. Although, that has put pressure on new home developers to step it up. After all, existing home inventory has comes up short in some sectors. And, many buyers, incentivized by continued downtrend in mortgage interest rates, find purchasing a new home well within reach. As a result, Sept domestic real estate market activity led the way into 4th quarter. It lead the way, with strong indicators framing the rest of 2020.
Sept Domestic Real Estate Market Activity, 2020 Update
Not only did home sales have a positive showing for September, but also pending sales. Note that home sales are tallied when the deed changes hands. Although, pending home sales are tallied with the sales contract is signed. And, pending sales now, will bolster home sales in 4th quarter. Add to that a continued downward trend in home mortgage rates. In fact, the 30-yr FRM, as recent as Oct, 22nd averages 2.8%. At the same time, the 15-yr FRM averages 2.33%. As a result, these figures have great appeal for the average buyer. They likely point to a lot of home buying before the end of the year. Besides, why wouldn’t buyers want to lock in these rates now. After all, things could change quickly in these uncertain times.
Sept domestic real estate market activity, heading into October shows an overall housing market rebound. And, ity shows that fanned, in large part by record mortgage rate lows. Add to that a healthy selection of existing homes in many markets. For buyers, what’s not to like? In fact, with San Mateo County real estate, you find a market brimming with unique homes. You find lots of buyer interest and bidding activity for them.
Would you like to find out more about selling a home in the County, or San Mateo County homes for sale? Contact a market expert and real estate pro. In fact, why not contact a pro you can trust, start to finish? Why not contact 5 Star Real Estate Agent, Carmen Miranda?