Photo Source: Instagram via @beckiowens

Housing continues to hold strong and accelerate. The Federal Housing Finance Agency (FHFA) Housing Price Index, measuring prices on single-family homes with conforming loan amounts, for October rose 0.5% from the month prior and is up 6.6% year over year.

Existing Home Sales were up 5.6% in November at the best level in 11 years! Homebuyers refuse to let inventory keep them out of the market. Homes were on the market for an average of 40 days but 44% of homes sold in November were on the market for less than a month.

Detroit, MI ranked No. 11 on Hottest Markets of 2017. California held 11 of the top 20 spots.

Mortgage Applications for last week were down 4.9% overall despite the slight dip in rates.

Initial Jobless Claims for last week reported at 245K.

Hall Financial (NMLS #1467435) was formed in early 2016, founded on a common mission: to be the most client focused mortgage company in the industry’s history. We were going to stop the trend of treating homeowners and homebuyers as transactions and instead, welcome them as family. We were going to treat them like the queen of England. Here, we bring you up to speed and keep you in the know with the latest housing news, home trends, and more!

0 comments on “Strong Housing, Hot Detroit.

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 )

Google+ photo

You are commenting using your Google+ 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 )

Connecting to %s

%d bloggers like this: