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People Are Buying Homes AND GETTING MORTGAGES!

Many believe that very few houses are selling and that almost no one can get a mortgage. We want to let everyone know that neither of these assumptions is true. Recently, the National Association of Realtors (NAR) released their Existing Homes Sales Report. According to the report there are, on average, 12,109 homes selling in the United States EACH and EVERY DAY! That means that approximately 12,000 houses sold yesterday, approximately 12,000 will sell today and approximately 12,000 will sell tomorrow. So the thinking that homes aren’t selling just isn’t true.

Another interesting fact in the report was that 72% of these transactions were accompanied by a mortgage. That means that approximately 8,719 people qualify for a mortgage on a daily basis in this country.

There are over 12,000 homes sold and over 8,000 mortgages granted every day. The real estate market is doing better than many believe.


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17 replies
  1. Craigt
    Craigt says:

    Thanks Steve for sharing some accurate information on the mortgage lending market. We are approving and closing loans everyday. Yes the process is more tedious but as long as we document a loan and properly qualify the borrower the loans are closing. Craig Tashjian, Fairway Independent Morrgage.

    Reply
  2. Brad Chandler
    Brad Chandler says:

    Things are healthier in the DC metro region than in other parts of the country as well. We are seeing relatively short times on the market compared with a year or two ago and only a 3-month supply in most surrounding counties. If you want to sell a house fast now may be the time to do it.

    Reply

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