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Mortgage and Housing November 2019

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.

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