September 2015 National Real Estate Market Update

National real estate market updateThe national real estate market update is looking good. Many times each month I post local St. George UT real estate market updates, which have been really good too. This recent September 2015 national real estate market update shows that existing home sales have hit another high. July 2015 actually saw a year over year increase into the double digits.

Currently, inventory is a little tight on the national level as home sales increase and out-pace homes being put on the market. Now is the time we generally see a decline in home sales as the holidays approach. However, it looks like we will still see good numbers as the year comes to an end.

The national real estate market update also shows that mortgage rates remain restrained because of the recent market turmoil that has directly caused the Federal Reserve to reevaluate the timing of interest rate increases for the remainder of the year.

Current Mortgage Rate Information

According to Freddie Mac in this national real estate market update, the 30-year interest rate took a slight fall due to the market turmoil in global markets. Here are some of Freddie Mac’s most recent figures.

30-year fixed rate – 3.93%

15-year fixed rate – 3.15%

5/1 year adjustable rate 2.94%

July 2015 Home Sales – National Real Estate Market Update

There were 5.59 million homes sold in July 2015 across the nation. That’s up 2% from June 2015 and 10.3% from July 2014. Most indicators show a continued strength in the housing market for the next few months to come.

If you are looking to buy a new home, I have some important information about several communities in the St. George UT area.

Coral Canyon Real Estate Market

Coral Canyon is a spectacular golf course community with low HOA fees and wonderful amenities. Homeowners have access to indoor & outdoor pools for year round enjoyment, tennis courts, a state of the art fitness center and miles of hiking/biking trails within Coral Canyon just to name a few of it’s highlights!

The Coral Canyon real estate market remained steady in August 2015. Home sales were up slightly in August 2015 over August 2014. Available inventory decreased and the average list price increased 7.50% from the year before.

St. George UT Real Estate Market

The real estate market definitely improved here in St George during 2014 and it continues to improve in 2015! The buying market is becoming very competitive, especially in the “under $250k” price range. Average sales price of a home in St George through 8/28/15 was $253,235. Average days on the market is currently 71.

For more real estate market updates in the St. George UT area, you visit my blog at

This national real estate market update are brought to you by: Erika Rogers – your real estate leader in St. George, UT and surrounding communities. She specializes in new construction, golf course communities, gated communities, 55+ adult communities, St. George luxury real estate, and foreclosures in all Southern Utah communities.

 

 

Also posted at: http://stgeorgeutahrealestateforsale.com/2015/09/september-2015-national-real-estate-market-update/

Share This