Housing Leads Markets

With all the talk about the economy, and waiting to see how Trump policy plays out, it’s nice to see the housing market delivering strong numbers. Across the U.S., May became the 63rd straight month of yearly housing prices increases, with the median price of $252.8k, up 5.8% over a year ago. The median number of days a property was on the market also dropped to a new low of 27 days. On the Mortgage side, rates continue to stay low with seasonally adjusted application volume rising 0.6%. Lenders are still seeing good application volume, but the “affordability” factor is at play as buyers’ personal income growth (e.g., 2-4% annually) is typically not moving forward at the same pace as housing prices. At some point, the tension between rising prices and upward rates will cause the market to naturally settle back into a more typical level of price increases/appreciation.

Geoffrey Davis – Mortgage Loan Consultant 

NMLS #206192
First United Bank & Trust

D: 214-529-9622

F: 855-239-6079
6401 S. Custer Rd.

McKinney, TX 75070

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: