People Are Buying Homes AND GETTING MORTGAGES!
The majority of Real Estate news over the past few years has been on the ‘doom and gloom’ side but signs of the long-awaited recovery are here – even if they aren’t the top headlines! For example, late last month the National Association of Realtors released a study which showed existing-home sales in the West rose 3.6 percent to an annual level of 1.16 million in November – 11.5 percent higher than November 2010. The Keeping Current Matters Crew commented on the report as well and clearly pointed out that… People Are Buying Homes AND GETTING MORTGAGES!
Many believe that very few houses are selling and that almost no one can get a mortgage. We want to let everyone know that neither of these assumptions is true. Recently, the National Association of Realtors (NAR) released their Existing Homes Sales Report. According to the report there are, on average, 12,109 homes selling in the United States EACH and EVERY DAY! That means that approximately 12,000 houses sold yesterday, approximately 12,000 will sell today and approximately 12,000 will sell tomorrow. So the thinking that homes aren’t selling just isn’t true.
Another interesting fact in the report was that 72% of these transactions were accompanied by a mortgage. That means that approximately 8,719 people qualify for a mortgage on a daily basis in this country.
There are over 12,000 homes sold and over 8,000 mortgages granted every day. The real estate market is doing better than many believe.
