November Existing-Home Sales and Prices Keep Trending In the Right Direction

According to the National Association of Realtors, total existing-home sales rose 5.9% in November to a seasonally adjusted rate of 5.04 million. Also, the national media existing-home price has risen 10.1% since November 2011.

According to NAR Chief Economist, Lawrence Yun: “Momentum continues to build in the housing market …with lower rental vacancy rates and rising rents, combined with still historically favorable affordability conditions, more people are buying homes.”

If you’ve been on the fence about jumping into the market, consider acting today. Home prices are rising and inventories are shrinking all across the country. Call On Q Financial, Inc.. to start your mortgage process and house search today.