Mar 28, 2014
Four things to know for Friday
28 Mar 2014
Posted by Andrew Kantor
Did you know that inventory is up 6.2% from last year?
That’s based on NAR’s numbers, and includes single family homes and condos. It’s the first national March-to-March increase since 2008.
The median asking price of these homes was estimated to be $263,463.2 Since this time last year, the inventory of homes for sale has increased by 6.2% and the median price has increased by 10.3%.[READ ALL ABOUT IT]
Did you know that Freddie Mac doesn’t expect mortgage rates to drop any time soon?
That’s what it said on its blog in a post with a title that says it all: “Mortgage Rates: From Dirt Cheap, to Cheap.”
One thing seems certain: we aren’t likely to see average 30-year fixed mortgage rates return to the historic lows experienced in 2012.[READ ALL ABOUT IT]
Did you know that NAR’s Pending Home Sales Index fell again?
It’s the eighth straight month that the index is down. It measures contract signings, not closures, but it’s still a reasonable look ahead. In the South, pending sales in February were down 9.3 percent from a year ago, but the freakish weather was at least partially to blame. [READ ALL ABOUT IT]
Did you remember to vote for one of the three Virginia finalists in REALTOR magazine’s “30-Under-30″ contest?
You have till 1:00 PM today, March 28, to vote, and you can vote once per day. So show your support! [READ ALL ABOUT IT]
Happy Friday — and remember: You heard it on VARbuzz!