Early this year, cash sales slid higher showing an increase from December but coming in at a considerably lower percentage than where they were the year before. According to CoreLogic, cash sales totaled 35.5 percent of residential transactions. Reports show that this is 1.9 percent higher than the previous month. Cash sales usually rise in January, but this year’s numbers
The spring housing market continues to experience strong growth. The most recent new home sales report from the Mortgage Bankers Association shows an increase of 17 percent over last month. With the shortage of existing homes for sale, buyers are turning to new construction. Another recent report revealed a sudden uptick in mortgage applications last week that also confirmed the
Although the Federal Reserve raised interest rates Dec. 16, rates charged for home mortgages reached all-time lows in February. The prospect of additional Fed rates hikes in 2016 caused a short-term uptick in mortgage rates in early March. As market fears subsided, mortgage rates drifted lower. Recently, lenders have been quoting rates of 3.875 percent or lower based on the
While the current housing market is facing a lack of real estate sales inventory, the rental market is on a promising upswing for investors. Because the purchasing price of single-family homes continues to rise, possible home buyers are searching for suitable housing options. In essence, an investor could purchase a property for $100,000 and earn $15,300 in rental income for
