First of all, the Palm State Mortgage blog must reflect some new numbers on home sales, because they provide us with a barometer for measuring the progress of our economic recovery. At first we were a little disappointed that the September figures reported by the National Association of Realtors showed a decline in sales since the August annual pace.
A closer look revealed that the national median of prices for homes increased for the seventh month in a row. This is actually good news for home sellers, and not such bad news for home buyers who are still enjoying great mortgage rates. Bottom line for what these figures mean is that the recovering economy is selling fewer houses this month, but more expensive ones.
Here are the numbers:
• Favorite Factoid 1: September sales rang in 4.75 million, and we know that is down 1.7% from the August rate.
It was still 11% above the sales rate of 2011.
• Favorite Factoid 2: The median national price for all types of housing last month was $183,900. That number is 11.3% above the median national price in 2011. Find more statistics by reading this source.
We were also pleased and encouraged that Lawrence Yun, NAR (National Association of Realtors) chief economist, said, “Despite occasional month-to-month setbacks, we’re experiencing a genuine recovery,” he added, “More people are attempting to buy homes than are able to qualify for mortgages, and recent price increases are not deterring buyer interest. Rather, inventory shortages are limiting sales, notably in parts of the West.” You can read more information from NAR by clicking here. In spite of the “look” of our September numbers in home sales, this is a wonderful time to allow Palm State Mortgage to find you a perfect mortgage rate to fit your budget.
We suggest you review our “Mortgage Shoppers Guide,”by clicking here.
Palm State Mortgage is a financial blog, and we love our facts and statistics, but we do know what holiday is just around the corner. In fact, we wish you, “Happy, safe, healthy, and economical Halloween!” Did we say, “economical?” Yes, we want you to save some money this Halloween, and still delight your young witches and vampires. We mention these characters because they are the simple classics. They are timeless, and they will always be part of the Halloween tradition. Their costumes can be passed down to their younger sisters and brothers. You can check out more Halloween savings ideas by clicking here, but find our favorite ones listed below: Of course we are going to advise you to create your own basic costumes, and buy only the necessary accessories instead of entire outfits.
Toxic free mini-make-up kits are a safer and more economical choice than masks, which hamper vision. The costumes, the construction paper bats and shredded-sheet ghosts, should all be packed away after the holiday, just like your Christmas decorations. Next Halloween comes sooner than you think. We have discovered that the little dollar bags of candy are priced misleadingly.
The big discount store bags are a far better value when priced by the piece. How does shopping for your Halloween treat candy compare to shopping for a house? Demographics! Scope out the neighborhood. Just how many little ghosts and goblins live on your street or in your adjacent area? If you reside in a little home in the middle of a quiet farm, you might be safe in buying that small dollar bag of goodies. That is, you might be safe until that Harvest Hayride decides to stop at your place!
The unseen reward behind these suggestions is that you enjoy quality family moments and shared memories, for free. Most of what you invested was a little time, and some creativity. You saved a little money in the process, and Palm State Mortgage thinks that is “boo-tiful!”
