Home Sales Dip But Things Still Looking UpThe local Maryland movers learned that U.S, sales of previously occupied homes dropped in September after reaching a two-year high just the month before. According to the National Association of Realtors, existing homes sales dropped by 1.7% to an adjusted rate of 4.75 million. In August 202, that number was at 4.83 million. The All My Sons of Maryland found out homes sales were still up 11% compared to the year before, even with the latest decreases in number. However that's still represents less than the 5.5 million needed to deem the real estate market as healthy. Economists are saying that home sales will get up there again by October, thanks to the continuous low mortgage rates and higher priced homes. The local Maryland moving specialists learned that there are fewer foreclosures and less inventory of homes, also contributing to the competitive market.
This past September the inventory of homes dropped to 2.32 million homes. It would take 5.9 months to exhaust that supply at the current sales price. This is the lowest sales-to-inventory ratio since March 2006. The building of homes is getting better, with builders working at a faster pace than in the last four years. However the pace is still at roughly only half of what it is considered in a healthy market. This mini building book is creating new jobs and bringing prospective buyers to the new properties. Retail space is rose at a good pace during September which means consumer confidence is back up. The shadow inventory consisting of the number of foreclosures the bank is still hanging onto has dropped by 10% compared to a year ago.
How's your housing situation compared to the rest of the nation? Are you looking to move out? If so, call the Maryland movers for a reliable moving day at a great moving quote. All My Sons of Maryland is part of the All My Sons Moving and Storage moving company with plenty of moving offices across Nashville, Atlanta, Salt Lake City, Raleigh and so many more. The local Maryland movers will quilt pad wrap your furniture and help you with getting settled in especially if you need help assembling some of your personal belongings. The local Maryland moving specialists have a lot of experience in moving from commercial moves to even auto moves. For a stress-free moving day, hire the All My Sons of Maryland, you won't be disappointed!