Another shot in the arm for the real-estate market came when Freddie Mac reported fixed-mortgage rates dropped to the near-record lows reached earlier in the year.
Jupiter, FL (PRWEB) September 06, 2012
A new report by the National Association of Realtors found more good news for the housing marking this year: Contracts on existing residences have increased to levels not seen in more than two years.
According to the data, compiled via the Pending Home Sales Index, the month of July saw a jump of 2.4 percent on signed contracts to buy pre-owned properties. The 2.4-percent jump raised the index to 101.7, its highest since April 2010.
Industry analysts expected the July gain would be 1 percent, following a June decline of 1.4 percent. Overall, sales of previously owned home showed an impressive gain of 12.4 percent from July 2011 to July 2012, the latest month for which figures are available.
The association’s chief economist, Lawrence Yun, said the increases were across the United States – although a little less so in the West.
In the southern region of the United States, which includes Florida, existing-home contracts realized a gain of 5.2 percent.
The team at Waterfront Properties and Club Communities said the figures reflect market activity in northern Palm Beach County and represent another victory for the housing industry.
Waterfront Properties deals in luxury real estate and golf-course homes for sale in North Palm Beach, Palm Beach Gardens, Jupiter, Tequesta and southern Martin County. Agents specialize in sales of real estate in Ranch Colony, Mirasol homes for sale and other private communities.
Another shot in the arm for the real-estate market came when Freddie Mac reported fixed-mortgage rates dropped to the near-record lows reached earlier in the year. Rates for a 30-year mortgage hit 3.59 percent; they previously were sitting at 3.66 percent.
With regard to the 15-year mortgage, rates fell to 2.86 percent, compared with 2.89 percent.
Analysts indicate 2012, so far, is a remarkable year of recovery for the market that bottomed out in 2008. With the exception of interest rates, everything is going up: sales, prices, builder and consumer confidence, and inventory.
Those positive signs – and their ripple effects – have Realtors at Waterfront Properties looking forward the remainder of 2012, and what good things will come in 2013. The licensed brokerage has been in business for 30-plus years and is led by Managing Partner Rob Thomson and founder Joan Thomson. A boutique firm, it operates out of three offices – one in Stuart, its headquarters in Jupiter and another in North Palm Beach – and its trademark is concierge-style service.
For information, call 561-746-7272.