Spectacular Stretch Of Solid Job Gains
Some financial and housing experts are indicating that the U.S. housing market will continue to show strength due to the robust jobs growth. Sam Khater, Freddie Mac’s chief economist, says “Overall, this spectacular stretch of solid job gains and low unemployment should help keep homebuyer interest elevated.” Khater goes on to say “However, mortgage rates will likely also move up, as the Federal Reserve considers short-term rate hikes this month and at future meetings.”
Additionally, in the September 13, 2018 article posted on Freddie Mac’s website, author Adam DeScanctis revealed their “Primary Mortgage Market Survey”. This details the US Weekly average mortgage rates. Read the entire article by clicking here.
The Roanoke Valley has experienced strong growth in home sales since the great recession. Total homes sold in The Roanoke Valley MLS has grown from 3,271 homes sold in 2010 (our low point) to 5,399 homes sold in 2017. Additionally, the average days on the market (DOM) has dropped from a high of 118 DOM in 2012, to now 86 DOM in 2017. The incredible U.S. job market is certainly spurring on this growth in Roanoke Valley home sales.
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