The National Association of Realtors reported today that existing-home sales have reached their highest point in six and a half years! This surely do in large part to rising interest rates convincing on-the-fence buyers that now is the time to make their move.
Inventory at the end of August had increased 0.4 percent to 2.25 million homes, at the current rate of sales, this represents a 4.9 month supply. That's slightly down from five months in July and six months a year before that. Home are flying off the shelves and volume is predicted to stay high as interest rates threaten to jump. Down get left out in the cold, if you're on the fence about purchasing your new home, now is the time!
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