Weekly Newsletter

Here is this weeks review of mortgage rates from last week, what you can expect this week and thoughts on what could move the mortgage market this week.  And as always, please let me know if you have any questions.

MBS-Road-Signs-10-16-2017

Have a great week!

Lee McLain

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KC Real Estate Statistics for August

The Kansas City Regional Association of Realtors put out some great reports breaking down the local real estate market.  Here is a quick snapshot of what happened in August.

If you want to dive deeper and see how specific counties did, follow this link – Local Market Update.  And for the Monthly Indicators – HMLS_MMI_2017-08.

Inventory is still really low, which keeps push the sales prices up.  You will see a drop in inventory and an increase in average price in basically every county in our area.

Thanks for reading,

Lee McLain

 

 

 

Weekly Newsletter

Here is this weeks review of mortgage rates from last week, what you can expect this week and thoughts on what could move the mortgage market this week.  As always, please let me know if you have any questions.

MBS-Road-Signs-09-11-2017

Thanks and have a great week!

Lee McLain

CoreLogic’s Home Price Index (HPI) for May

CoreLogic’s Home Price Index (HPI) for May just came out and shows very solid appreciation growth nationally. And forecasts that home prices will rise by 5.3% in the year going forward…and they are usually a bit on the conservative side. It’s a great time to be a homeowner. Let me know if you would like to see what this means to your potential net worth if you are in the market for a new home.

Have a great day!

Lee McLain

New Home Sales for May

New Home Sales, which measures signed contracts on new homes, beat expectations just like this week’s Existing Home Sales Report.  Sales are up 8.9% year over year.  2.9% over April.  The Median New Home Sales Price rose 16.8% year over year to $345,800, which is the highest on record.

New-Home-Sales-6-23-2017.png

Today’s report showed that we had the 3rd strongest selling pace in 10 years.

Here is the link to today’s full report from the U.S. Department of Commerce – https://www.census.gov/construction/nrs/pdf/newressales.pdf.

Thanks for reading and please let me know if you have any questions.

All the best,

Lee McLain