Home Sales are Fast and Furious
in the calendar month of June, homes sales totaled more than 5 million, According to the National Association of REALTORS® on a seasonally-adjusted, annualized basis and shows no signs of slowing.
More than half of homes that were listed through the MLS system were sold within 30 days or roughly one month. The key is pricing your home right and preparing it to sell. According to Realtors that were interviewed in Michigan, if a house is priced right and listed, it will sell quickly.
Existing Home Sales Approach Recent Record Highs
For the aforementioned month of June, 5.08 million homes were sold which is an increase of 15% from one year ago. This sharp increase in recent home sales has pushed the home sales numbers to near record highs. The panic to buy not before rates rise and motivation to jump on houses before they are sold has set the real estate market ablaze. The key to buying in this environment is to be prepared!
Do not wait for the accepted offer to start looking for a mortgage. Start your home buying process by speaking with a licensed loan officer and reviewing your goals. Select what mortgage type will be the best for your situation and get a home loan pre approval.
Get a Mortgage Pre-Approval Now and Act Quick
For today’s home buyers, it’s important to be purchase-ready. Homes are selling quickly and home values on are the rise. Furthermore, since late-Spring, each passing month has brought higher mortgage rates which has raised the cost of homeownership. With your pre-approval in hand you can confidently move quickly on a home offer and buy the home of your dreams.
Today’s home buyers should take a look at all available mortgage options, and secure themselves a pre-approval letter. Lenders provide this service for free, and with no obligation. You can get started online anytime.