Recently, the National Association of Realtors
(NAR) released their latest Existing Home
Sales Report which covered sales in November. The
report revealed that sales:
“…fell 10.5 percent to a seasonally adjusted
annual rate of 4.76 million in November (lowest since April 2014 at 4.75
million)…”
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“The most likely cause for the weak sales
numbers is a delay in processing loans due to the new TRID mortgage
requirements imposed by the CFPB. This is the biggest change in mortgage
document processing in many years, and there have been numerous reports within
the industry of problems implementing the process and the new documentation
that comes with it.”
So how is the
housing market actually doing?
A better way to look at how well the housing
market is doing is to look at the Foot Traffic Report from NAR which
quantifies the number of prospective buyers that are actively looking for a
home at the current time:
![]()
Bottom Line
No matter what last month’s sales numbers
show, the housing market is still doing well as demand remains strong.
David Demangos 858.232.8410 Locally Known, Globally Connected Luxury Home Marketing Specialist Global Property Specialist David@AwesomeSanDiegoRealEstate.com www.AwesomeSanDiegoRealEstate.com Our Team Goes to Extremes to Fulfill Your Real Estate Dreams! |
Tuesday, December 29, 2015
Why Did Home Sales Drop So Dramatically Last Month?
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