Peoples Home Equity expects home prices to continue to outperform year-ago levels throughout the winter.
Chicago, IL (PRWEB) December 12, 2014
As reported by DQnews.com, median home sales for the past 30-days increased 1.1% from Thursday of last week to Thursday of this week. Median home sales seasonally trend lower from mid fall to late winter. Thus, any rise in weekly home sales is impressive during this time of year, especially when it's a +1% rise! Perhaps better yet, sales have maintained their year-over-year out-performance by 3.2%. Apart from sales, median home sale prices remained unchanged for the week. While prices also seasonally fall during this period of the year, it was not surprising to read that they remained unchanged. On a year-over-year basis, median home sale prices are also outpacing 2013 by 2.3%. Housing demand has been challenged with a lack of inventory, which has been propping home prices up throughout 2014. A further, seasonal lack of inventory combined with a larger number of Americans being approved for mortgages will only push property values higher. Peoples Home Equity expects home prices to continue to outperform year-ago levels throughout the winter.
This rise in weekly home sales was released a day after mortgage applications were announced as having surged 7.3% for the week ending on December 5th. Overall, Peoples Home Equity sees the housing market as accelerating in terms of its recovery. More Americans are employed, credit scores are rising, and more individuals are being approved for home loans. To compete with the increased number of people enabled to purchase a home, it's imperative to get approved for a home loan.
If you are in need of a home loan, consider contacting a Peoples Home Equity loan officer today at: 262-563-4026