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This Month: It's All About Simple Summer Joys!
From a vast amount of summer events in our community, to having fun with your family and friends at home this summer, by the pool and otherwise. And since the children are out of school, I even included articles on activities you can do together all summer long.
Also, please enjoy reading and being reminded of Simple Summer Joys in the articles section.
On the Real Estate Front
Nationally, April witnessed a median home price increase of 5.7% while inventory also rose by 9% making this a 16% increase from last year. First time homebuyers were also responsible for 33% of April's sales as per the data on the National Association of Realtors.
Yet sales of existing homes were down by 1.9%. A limited supply of homes available for sale however still result in the increase in prices we continue to see nationally and locally.
According to Lawrence Yun, Chief Economist of The National Association of Realtors, "home prices reaching a record high for the month of April is very good news for homeowners, however the pace of price increases should taper off since more housing inventory is becoming available."
This latter projection is good news for buyers.
Speaking of Buyers, Remember That Buying a Home Offers You:
- an investment
- equity building
- stability
- fixed interest rates
- tax-deductions
So if you are considering becoming a homeowner, contact us.
Our expert guidance can help you not only find a good investment, but a home for future beautiful experiences for you to enjoy with those you love.
If you are considering selling your home, it is also important to look at current data and future projections.
Sellers, call us today and we can share more info with you.
MARKET HIGHLIGHTS
Below, please find national real estate housing data and infographics from the National Association of Realtors. Keep reading to view the summary for the Louisiana market and in particular, St. Tammany and Tangipahoa Parishes.
We think you'll be most interested in what is happening here, but it helps to be aware of national market trends.
Please keep in mind that on the national level, data lags one month behind.
NATIONAL SNAPSHOT FOR APRIL
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Pending Sales - decreased by 7.7% month over month [while in the regional South they decreased by 7.6%]
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Existing Home Sales - decreased by 1.9% - month over month
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Home Prices - increased 5.7% - year over year
Continuing Challenges:
- Interest Rates
- Affordability
- Inventory Shortages
- Insurance Rates
The month of April continued to trend toward a Sellers Market with 3.5 months of Inventory.
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