Recent news on your real estate market.
Lawrence Yun, NAR Chief Economist, states, "The housing market is clearly superior this year compared with the past four years. The latest increase in home contract signings marks 13 consecutive months of year-over-year gains."
- According to NAR, the housing affordability index has rose to a record high 206.1, the highest level since record keeping began in 1970. NAR President, Moe Veissi stated, "This is the first time the housing affordability index has broken the two hundred mark, meaning the typical family has roughly double the income needed to purchase a median-priced home."
- According to a recent article in the Cape Cod Times, provided by Bloomberg News, new home construction rose in June to the highest level in almost 4 years, indicating that the residential real estate market is strengthening.
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