24 Hours that Suddenly Improved the Market

This year started strong for real estate, but then the market began to soften. Home inventory in the starter and move-up categories dwindled to almost nothing, mortgage rates were projected to rise, and home sales had decreased for several months in a row.

To many, the outlook heading into 2019 appeared dim… at best.

Then, in a 24-hour window last week, things seemed to change. On Wednesday, the National Association of Realtors’ (NAR) revealed in their Existing Homes Sales Report that home sales had INCREASED for the second consecutive month. The next day, NAR’s economic research team announced that the percentage of first-time buyers in the market was higher than last month and even higher than a year ago.

What happened to turn around the downward momentum in the market? 

You only needed to wait a few hours to find out. On the heels of NAR’s revelations, Zillow released their November Real Estate Market Report that explained:

“After nearly four years of annual declines in inventory, the number of homes for sale has now increased year-over-year for three straight months…”

Ending 2018, we now know two things:

  1. Listing inventory increased over the last three months
  2. Home sales increased over the last two months

Maybe a lack of inventory was the major challenge all along.

But, what about those pesky interest rates?

Last Thursday (the day after all of the above news), Freddie Mac announced that mortgage rates did not increase but instead decreased…again. From their release:

“The response to the recent decline in mortgage rates is already being felt in the housing market. After declining for six consecutive months, existing home sales finally rose in October and November and are essentially at the same level as during the summer months.

This modest rebound in sales indicates that homebuyers are very sensitive to mortgage rate changes – and given the further drop in rates we’ve seen this month, we expect to see a modest rebound in home sales as well.”

Bottom Line

Will 2019 start out better than many have predicted? Perhaps, but we’ll have to wait and see. Things do look much better today, though, than they did just a month ago.

1,722 comments

  1. Фиксация формы, натуральный оттенок и объем! Легкая и прозрачная текстура оттеночного геля абсолютна невидима на бровях. Она разглаживает волоски, делая их послушными. Придает бровям ухоженный вид, фиксируя их форму.

  2. 
    مضمون ی این پیغام از نظر بی اندازه از
    افراد ارزان و کامل نیست ولی فداکار از محتویات سکوی پرتاب موشک ها و بلاگ ها پیرامون این مطلب در وب
    وجود دارند که می توان از آنها استفاده بهتری داشت

  3. 
    غلام تا بوسیله اوضاع پیغام به این نظم در اینترنت نخوانده بودم بسیار جذاب و کامل بود و مقاله جالب ایشان از باب جزیل از ویزیت کنندگان اینترنت نازل است

  4. I believe ԝhаt yоu composed made а grеat dezl
    ⲟf sense. However, ᴡhat aƄoᥙt tһis? what if you wеre to create a awesome post title?
    I am not sayikng ʏour іnformation іs nnot good, but
    suppose yߋu addded а post title tһat makes people want mоre?

    Ι mean 24 Hours that Ꮪuddenly Improved tһe Market – INFINITE REAL ESTATE
    ᏀROUP іs kinda plain. Yoᥙ cоuld peek aat Yahoo’s frοnt
    pɑge and watch how they ϲreate article titles tоo geet people to open tһe lіnks.
    You mіght aadd а vikdeo orr а picture оr
    two to grab people interеsted abߋut everything’ve wrіtten.
    Јust my opinion, іt mighut maқe your posts a
    littl livelier.

    Αlso visit mʏ blog post poker set with case

  5. Hmm is anyone else experiencing problems with the pictures on this blog
    loading? I’m trying to find out if its a problem on my end or if it’s
    the blog. Any feedback would be greatly appreciated.

  6. Hello! This is my 1st comment here so I just wanted to give a quick shout out and tell you I genuinely enjoy reading your blog posts.
    Can you recommend any other blogs/websites/forums that cover the same subjects?
    Thanks a lot!

  7. [url=http://buyalbenza.monster/]albendazole 400 medicine[/url] [url=http://allopurinol.email/]allopurinol medicine[/url] [url=http://buyfluconazole.shop/]150 mg diflucan online[/url]

  8. My developer is trying to persuade me to move to .net from PHP.
    I have always disliked the idea because of the costs.
    But he’s tryiong none the less. I’ve been using Movable-type on a number of websites for about a
    year and am concerned about switching to another platform.
    I have heard great things about blogengine.net. Is
    there a way I can transfer all my wordpress posts into it?

    Any kind of help would be really appreciated!

  9. Heya i am for the first time here. I found this board and I to find It really helpful & it helped
    me out much. I’m hoping to provide something back and help others like you helped me.

  10. Great site you have here but I was curious about if you knew of any discussion boards that cover the same topics talked about here?
    I’d really like to be a part of group where I can get responses
    from other experienced individuals that share the same interest.
    If you have any suggestions, please let me know. Thank
    you!

  11. En güvenilir takipçi sitesi olan takip2018.net’ ile fenomen olmaya hazırmısınız?

    Evet dediğinizi duyar gibiyiz, O Halde hiç beklemeden hemen fenomen olma
    yoluna hızla yaklaş.

  12. You really make it seem so easy with your presentation but I find this matter to be actually something which I think I would never understand.
    It seems too complex and extremely broad for
    me. I am looking forward for your next post, I will try to get the hang of it!

  13. Pingback: 3chaotic
  14. Woah! I’m really enjoying the template/theme of this blog.
    It’s simple, yet effective. A lot of times it’s tough to get that “perfect balance” between superb usability and visual appeal.

    I must say that you’ve done a superb job with this.
    Additionally, the blog loads super fast for me on Safari.

    Outstanding Blog!