Home Sales Decline

Dated: 12/19/2013

Views: 10993

The news is everywhere this week: "Home Sales Decline!" 

For the 1st time in almost 2 1/2 years, home sales were down year-over-year.
Down 4.3 percent from October to November and down 1.2 percent  from a year ago. 
The National Association of Realtors reported that: "
Higher mortgage rates, constrained inventories and tight credit slowed the pace of existing-home sales for the third month in a row in November."
While the FED  announced it is cutting back its bond purchase program by $10 billion a month in 2014 signalling the end of their QE efforts and hinting that higher interest rates are on the horizon.
So what does that mean to today's homebuyer? It's time to buy! Now!
With low inventory, and pent up buyers jumping off the fence, you may find that higher interest rates lower your buying power and put you in more competition with other buyers trying to buy before values go up higher.
Search Charleston, SC homes HERE

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