Market Insights: September 2016
Mortgage TypeRate
30-Year Fixed: 3.47%
15-Year Fixed: 2.74%
5/1-year ARM: 2.76%
Historical average: 8.90%
THERE'S OPPORTUNITY IN EVERY MARKET!
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HOME PRICES
The median home price decreased to $244,100 in July, which was down 1.4 percent from June and up 5.3 percent from July of last year. The median home price has increased by nearly $12,300 in the past year alone.
HOME SALES
The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of 5.4 million homes during the month of July. This was a decrease of 3.2 percent from June, and a decrease of 1.6 percent from July of last year.
INVENTORY - MONTH'S SUPPLY
There was a 4.7-month supply of housing inventory in July, which increased slightly from June. The total number of homes for sale decreased by 4.1 percent compared to July of last year
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