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Mortgage and Housing November 2019


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Late to the recovery party, the Housing Market is finally showing sustained strength with increases in sales in nearly all price ranges, strong demand by first-time home buyers and historically low distressed property sales. Sales for homes priced between $250K and $1 million showed strong sales growth in September 2019. First-Time Homebuyers accounted for 33% of all home sales in September. Distressed Property Sales Dropped to 2%; down from 3% a year earlier. The National Housing Market Index shot up to 71 in October vs. 58 in January 2019 and Housing Starts reached their second highest level since January 2005.