Happy Holidays for Home Sales

Happy Holidays for Home Sales

US existing home sales jump to 11-year high

Reuters reports that U.S. home sales increased more than expected to 5.6 percent in November.  Existing home sales hit their highest level in nearly 11 years - since December of 2006.  This is the latest indication that housing has bounced back after almost stalling this year. 

Despite the recent gains, existing home sales remain constrained by a chronic shortage of houses at the lower end of the market, which is keeping prices elevated and sidelining some first-time buyers, who accounted for 29 percent of transactions last month.  Economists and Realtors say a 40 percent share of first-time buyers is needed for a robust housing market.

You can read all the details HERE.  Our experience on the Easterbrook Team mirrors this article with our current amount of purchases closing now and in the New Year for Sacramento, El Dorado, and Placer Counties. We have created HomeLoanWorkshop.org to keep up with demand and provide an educational outlet for potential homebuyers.  For reservations, call (916) 850-6050 or visit the website HERE