Home sales spike upward following small April detour

Home sales in the month of April were an anomaly. Sales fell by nearly 4.5%. Market insiders expected another banner month of sales, but the numbers contradicted expectations during prime home-buying season.

Even the National Association of Realtors’ pending home index reached unusual levels during this period of time. In May, however, pending home sales rebounded by 8% and 13% from the same time last year.

The index is a reliable indicator of market performance, as it tracks contracts signed for the purchase of single-family dwellings. May’s numbers reached their highest level since 2005. The index is also a forecast of things to come. Contract signings showed strength across the nation.

Analyst expect the market to add more listings in the second half of this year, which is music to the ears of many future homebuyers. During the pandemic, home sales soared and so did the price. With low interest rates, the market took off, leaving some qualified buyers behind.

But things can be changing with an economy on the move. As you prepare to enter this exciting market, PMR loans can build the right loan program for your unique financial situation.

Future homebuyers can choose from a variety of programs, including fixed rate and FHA loans. Finding the right loan program is key in today’s competitive market. PMR’s loan officers will work with you so you can learn about the benefits of each program.

A fixed-rate mortgage is a traditional route to homeownership. Borrowers enjoy the predictability of unchanged principal and interest payments over the life of the loan.

FHA loans, on the other hand, are terrific for first-time homebuyers. That’s because FHA loans feature lenient borrowing terms that give applicants a little more breathing room to succeed.

Reach out to us today to learn about our other loans, including VA and conventional programs, that can help you reach your goals and get you into a home of your dreams.

Note: PMR is not affiliated with or an agency of the federal government

Related News

Selling House in Spring: How to Get Your Home Ready to Sell This Season

Selling House in Spring: How to Get Your Home Ready to Sell This Season

Thinking about selling your home this spring? You’re not alone. Warmer weather, longer days, and blooming yards tend to bring more buyers to the market—and with them, more opportunity. But before listing your home, a bit of preparation can go a long way in helping it...

Is It Time to Refinance? 5 Signs to Watch For.

Is It Time to Refinance? 5 Signs to Watch For.

Refinancing your home loan means replacing your existing mortgage with a new one, often to secure a lower interest rate, reduce monthly payments, or change your loan term. It can also give you access to home equity for things like home improvements or debt...

Top 10 Tips for First-Time Home Buyers

Top 10 Tips for First-Time Home Buyers

Buying your first home is one of the most exciting and significant milestones in life. It’s a step toward building equity, creating a space that’s truly yours, and achieving a sense of stability. However, the process can also feel overwhelming, especially if you’re...