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Interest rates rise & Pending home sales highest level since 2006
Pending home sales rose in April for the fourth straight month and reached their highest level in nine years. The Pending Home Sales Index, a forward-looking indicator based on contract signings, increased 3.4 percent to 112.4 in April from a slight upward revision of 108.7 in March – a year-to-year 14 percent increase.
Now is the time to buy! Call Rory at 954.465.8147, he will walk you through the sale process and locate you that perfect residence. We are dream weavers!
The increase in the number of April pending sales is the
largest annual increase since September 2012. The index has now increased
year-over-year for eight consecutive months, and it's at its highest level
since May 2006.
Average long-term U.S. mortgage rates rose this week to their
highest level so far this year as new data showed strength in the housing
market. Mortgage giant Freddie Mac said Thursday the average rate on a
30-year fixed-rate mortgage increased to 3.87 percent from 3.84 percent a week
earlier. The rate on 15-year fixed-rate mortgages advanced to 3.11 percent from
3.05 percent.
Home prices rose at a steady
pace in March, according to the latest Standard & Poor's/Case-Shiller
20-city home price index showing a 5 percent increase in March from 12 months
earlier. Prices rose at the same pace in February.
Home
values are rising at a faster rate than incomes, potentially pricing many
would-be buyers out of the market.
Considering buying, selling or renting Real Estate here in Miami-Dade, Broward or the Palm Beach Counties? We have resided here in South Florida for 45 plus years. Conducting Real Estate on a very high level! Making friends and building relationships.
Please contact Rory Mark Schmer Founder of SouthFloridaHomeSale.Com
My promise to you and your family:
- Loyalty
- Skill, Care & Diligence in all areas
- Confidentiality
- Accounting for all funds
- Instant Gratification
- Patience
- Disclosing all known that materially affect the value of residential real property and are not readily available.
You can reach me directly at 954.465.8147 we operate 24/7. We are email and text friendly so please feel free to contact us VIA any means available. I am always here for you!
I have surrounded myself with the best associates in the business. We have attorneys on staff and should you need mortgage assistance our lenders are incredible.
I look forward to hearing from you. Check out our website www.southfloridahomesale.com she's loaded with information and content. I know you will appreciate her.
Rory Mark Schmer PA