1. Unemployment numbers are improving.
According to numbers from the Department of Labor, jobless claims for the week ending July 4 totaled 1.314 million, lower than the 1.39 million predicted from economists surveyed by Dow Jones. The total marked a decrease of 99,000 from the previous week.
2. The Housing Market Index is on the rise.
Realtor.com’s weekly Housing Market Recovery Index has reached 95.8 nationwide for the week ending June 27, and 12 of the 50 largest markets are showing recovery. The index is set to 100 for the last week of January, and a value of 100 means the market has recovered to the pace seen that month.
3. Half of NAR members report improvements.
The National Association of Realtors’ most recent Market Recovery Survey revealed that 45% of its members had reported that their market has slowly entered recovery mode.
4. Buyer and seller confidence is increasing.
According to Fannie Mae’s Home Purchase Sentiment Index, 61% of Americans believe now is a good time to buy a home – an increase of 9% from 52% in May. The number of people who say it is a good time to sell also increased to 41% from 32%.
5. Mortgage rates continue to hit historic lows.
The average 30-year fixed-mortgage rate is 3.14 percent, a decrease of 11 basis points over the last week. A month ago, the average rate on a 30-year fixed mortgage was at 3.39 percent.
Peter is a Real Estate Broker at Professional Brokers Group (License No. 023000), covering the greater Short Sale area of Colorado.
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Helping Short Sale Realtor home owners avoid foreclosure with a short sale.
Peter Janisch specializes in short sales in Short Sale Realtor. I am your Short Sale Realtor Short Sale Specialist Realtor and Short Sale Realtor loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.