Real Estate Market Awaits Multiple Data Points

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Peoples Home Equity discusses the implications of multiple real estate data points being released soon.

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With the real estate market entering winter seasonal weakness Peoples Home equity sees now as the opportunity for prospective home buyers to apply for a home loan.

This week promises to be very important for buyers and lenders alike as an abundance of housing data will be released. October pending home sales will be released today, Monday November 24th, and October housing starts as well as September monthly home price index changes will be reported. Peoples Home Equity is not expecting to see both a positive pending home sales report as well as a positive reading on the S&P/Case-Shiller National Home Price Index.

Pending Home Sales, which are homes are under contract to sell but have not close yet, have been positive for over two years. However, sales declined to a reading of -1.2 in September 2013, which was very surprising since it was the first negative reading since spring 2011. Peoples Home Equity expects to see a possible another month of negative home sales since the real estate market was forewarned by a drop in existing home sales on November 20th. In addition, mortgage applications declined this past week which is leading indicator of home sales to come.

As for the S&P/Case-Shiller Home Prices Index, Peoples Home Equity expects a rise in the reading. The period the index value will post is going to be from June to September when existing was near their annual highs.

With the real estate market entering winter seasonal weakness Peoples Home equity sees now as the opportunity for prospective home buyers to apply for a home loan. A recent Peoples Home Equity news release titled ‘43 Years of Data Shows Historical Bias in Mortgages Rates’ showed that mortgage rates show a bias to being relatively lower in December, January, and February. Once approved for a home loan, individuals will be prepared to act fast when bidding on a desired home. Sellers take potential buyers seriously when they are bidding with a bank approved loan.

To get start on a home loan application please visit: PeopleHomeEquity.com, or contact a representative today at: (949)-481-6156

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