According to the National Association of Realtors, existing home sales increased by 3.6% to a seasonally adjusted annualized rate of 4.89m in July. That's up from a
4.7m rate in June, which is wonderful news for the housing market and the economy in general. In addition, despite interest rates rising slightly, last year the average interest rate on a 30-year fixed rate mortgage was 6.63% Sales of new single-family homes jumped 11% in July - the biggest monthly gain since December 2000 and far surpassing economists outlook for a 4.5% rise.
In a market with great affordability, rates and choice, it's a great opportunity for consumers to upgrade from their current home, downsize, purchase an investment property, or for those Penn State fans who have been fighting the crowds at local hotels - to purchase their own "State College weekend home"
To discuss further or to set up a one-to-one coaching session, please email me firstname.lastname@example.org, or call me (814)231-8200 ext.352.
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