fha mortgage loans, local mortgage broker, midwest family lending

(515) 252-7107

APPLY NOW!

Mortgage Industry News

« Return to Mortgage Industry News

Tight Supply, Strong Demand Push Record-Setting Home Sales Pace … Again

Thursday, June 15, 2017

The competition for housing is heating up along with the summer temperatures and continuing to set new records.

The average house sold in May went under contract in just 37 days, that's the fastest reading since Redfin, a real estate brokerage, began tracking the market seven years ago. The previous record, set in April, was 40 days.

Homes are selling faster than ever because supply is tight and demand is high. The number of listings in May was nearly 11 percent lower than in May 2016, leaving just 2.7 months of supply — another record low in the Redfin report. As a reference point, the...

Read Full Article

Testimonial

"Eric was attentive to all my questions and concerns and provided answers in a manner in which I could understand. He sent friendly reminders via email to keep me posted on where we currently stand within the loan process and in the same time kept me accountable for the items that were required for myself to help keep the loan process moving."
Amanda L