This Month in Real Estate

Keller Williams Market Insights: April 2016

HOME SALES

The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of 5.1 million homes for the month of February. This was a decrease of 7.1 percent from January, but an increase of 2.2 percent from February of last year. Currently, 2016 is outpacing 2015 by approximately 650,000 total home sales.

HOME PRICES

The median home price was $210,800 in February, which was down 1.4 percent from January but up 4.4 percent from last year. The median home price has grown by nearly $9,000 in the past year alone.

INVENTORY – MONTH’S SUPPLY

There was a 4.4-month supply of housing inventory in February, up from 4 months in January. The total number of homes for sale in February increased by 3.3 percent to 1.88 million homes nationwide, but that was still 20,000 fewer listings than February of last year.

CURRENT MORTGAGE RATES

The following is a summary of the current mortgage rates:
Mortgage Type Rate
30-Year Fixed 3.73%
15-Year Fixed 2.99%
5/1-year ARM 2.93%
Historical average 8.90%

Source: This Month in Real Estate

Thinking of buying or selling real estate?

KW1784102f20KW_thumb.jpgYou should consider using a realtor.  If you are interested in buying real estate (new home, existing home, or commercial property), please contact me (Alan Lane with Keller Williams Realty at 2119 W Brandon Blvd, Brandon, Florida  33511).  As a life long resident of Central Florida, I can help you find the right property for you whether it is in Lakeland or as far south as Sarasota.  The Keller Williams offices of  ”Suburban Tampa” include the offices in Brandon, Plant City, Fishhawk Ranch, and our newest office in Valrico.  My email address is alanlane66@gmail.com, or call me at 813.205.9280.  If you are just starting your search, you can search the MLS for real estate opportunities on my website at this link.

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