After decreasing by nearly 30 prcent in July, existing home sales bounced back in August. Although this recovery does not signal an end to the current housing recession, it remains a positive sign for the industry.
According to Lawrence Yun, chief economist for the National Association of REALTORS®, the steps to stabilization may take some time.
“Despite very attractive affordability conditions, a housing market recovery will likely be slow and gradual because of lingering economic uncertainty.”
– Lawrence Yun
Due to the market’s current pace, mortgage interest rates remain at all time lows. Take advantage by contacting us today!
August’s edition of the “This Month In Real Estate” newsletter has been released. Read about the state of home sales, the continuing trend of low mortgage interest rates, and more by clicking here. As always, for more information on buying or selling a home in the greater Lafayette, IN area, visit our website.