Lots and lots of people are taking advantage of dramatically reduced home prices. Last week the September Existing Homes Sales report showed a 5.5% rise over August. The rise in the number of sales is the highest annual rate since August 2007.
As if that upbeat news isn’t enough, the LA Times reported on October 22 that September home sales in California jumped 65% from the same month a year earlier! In all, 40,317 homes changed hands in California this past September.
If you know of anyone who wants to take advantage of the market and get their hands on a bargain, please call me with their contact information. I’ll take excellent care of them.
The FHA Jumbo 30-year fixed rate improved last week by falling 1/4%. Where rates began the week of October 27.