Home Sales Rebound in September!
The numbers are in, and according to the most recent report by the National Association of Realtors the number of existing home sales jumped last month by 4.7 percent across the nation. This comes after numbers slipped in August, showing that the demand for homes is still strong even after the economic declines seen in the stock market in the past month.
"The report adds to the evidence that home sales, and housing activity generally, are trending up," said Jim O'Sullivan, chief U.S. economist at High Frequency Economics.
The sale of homes increased by 8.8 percent over the last year, but the number of active listings has dropped by 3.1 percent. Home sales may be up, but the number of first time homebuyers remains low. Millennials are struggling to afford a home. A recent survey showed that nearly 20 percent of Millennials are seeking financial help from their family to purchase a home.
Mortgage interest rates remain low, making now the opportune time to buy or sell a home in the Twin Cities metro area.
If you are looking to buy a home in the Twin Cities we would love to help. Our group specializes in Eden Prairie Real Estate,Chanhassen Real Estate,Chaska Real Estate,Lake Minnetonka Real Estate,Edina Real Estateand West Bloomington Real Estate.
Brace Helgeson Coldwell Banker Burnet
Licensed in Minnesota/Lic # 92065