3 Signs the Housing Market Is on the Rebound – Discover Living & Real Estate in Solano County

3 Signs the Housing Market Is on the Rebound

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3 Signs the Housing Market Is on the Rebound

3 Signs the Housing Market Is on the Rebound | MyKCM

The residential real estate market has been plodding along for most of the year. However, three recent reports show the market may be on the verge of a rebound:

1. Existing Home Sales (closed sales) are up, marking two consecutive months of growth.

2. Pending Home Sales (contracts signed) are up with each of the four major regions reporting both month-over-month growth and year-over-year gains in contract activity. Here is the month-over-month growth:

  • The Northeast rose 0.7%
  • The Midwest increased 0.6%
  • The South increased 1.4%
  • The West grew 3.1%

3. Buyer Traffic (the number of people shopping for a home) is up compared to the same time last year, and for the first time in 13 months.

  • The Northeast is up 5.9%
  • The Midwest increased 1.3%
  • The South is up 2.7%
  • The West grew 2.2%

In their most recent report, ShowingTime Chief Analytics Officer, Daniil Cherkasskiy explained:

“The trend we saw in year-over-year buyer traffic in previous months continued across the United States. For all four regions there were more showings per listing this year compared to last year, making it the most competitive August in the last five years.”

Lawrence Yun, Chief Economist with the National Association of Realtors, believes the uptick in activity will continue into the future:

“It is very encouraging that buyers are responding to exceptionally low interest rates…With interest rates expected to remain low, home sales are forecasted to rise in the coming months and into 2020.”

Bottom Line

If you are thinking about selling your house, there are purchasers out there who are ready, willing, and able to buy.

Serge Santos
Serge Santos
Serge Santos, is a Broker-Associate at RE/MAX Gold Elite Team, based in Fairfield, California, 18-year veteran of the real estate industry and has represented clients all over Solano and Sacramento areas in all sorts of real estate transactions, selling more than 400 properties representing both sellers and buyers. Active in the community, Serge is a long-time resident of Solano County for almost 20 years. He has extensive knowledge and experience in the local real estate market. As a client, you will benefit from Serge's in-depth knowledge of the local housing market and his "people-first" approach to business. He looks forward to helping you achieve your real estate goals.

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