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For Sale: $649,000

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Note: National Association of Realtors® (NAR) data below is from June (the most current national data)

National Association of Realtors® (NAR) data shows that sales of existing homes dipped in June owing to a low supply. While homes sold at a near record pace, activity ultimately ended up muted. Only the Midwest saw an increase in sales last month.

Total existing-home sales (measures completed transactions for single-family homes, townhomes, condominiums and co-ops) dropped 1.8% to 5.52 million in June from 5.62 million in May. Despite last month's decline, June's sales pace is 0.7 % higher than a year ago.

 Existing Home Sales By Region
NAR's chief economist, Lawrence Yun, indicated that the dip in contract activity in the prior three months translated to a pullback in existing sales in June. "Closings were down in most of the country last month because interested buyers are being tripped up by supply that remains stuck at a meager level and price growth that's straining their budget," Yun said. NAR's economist added, "The good news is that sales are still running slightly above last year's pace despite these persistent market challenges."

Housing Data Takeaways

  • June's median existing-home price for all U.S. housing types was $263,800, up 6.5% from June 2016 ($247,600). Last month's median sales price overtakes May as a new peak and represents the 64th straight month of year-over-year gains.
  • Total U.S. housing inventory at the end of June dropped 0.5% to 1.96 million existing homes available for sale, and is now 7.1% below a year ago (2.11 million) and has dipped year-over-year for 25 consecutive months. Unsold inventory nationally now offers a 4.3-month supply at the current sales velocity, which is down from 4.6 months a year ago.
  • First-time buyers drove 32% of sales in June, down from 33% both in May and one year ago. The annual share of first-time buyers for 2016 was 35%.
  • Freddie Mac data indicates the average commitment rate for a 30-year, conventional, fixed-rate mortgage fell for the third consecutive month, dipping to 3.90in % June from 4.01% in May. For all of 2016 the average commitment rate was 3.65%.

Make Your Offer Count!

Before making an offer on a home in today's competitive housing market, it is more important than ever for home buyers get their financial house in order when applying for a loan.

While there are online resources available that can provide a sense of one's overall financial position, be sure to review your credit report in person with your mortgage professional and get pre-approved for a loan before making an offer on a home.

A little preparation goes a long way and can make a big difference when it comes to closing on your dream home. Contact us today to get the right loan for your current needs!

Celebration - The Town Disney Built

Disney has been a big part of millions of people's live around the world. But imagine living in a place built by Disney? About 20 years ago, such a place was built, a community that is a celebration of life. It's litterally the town Disney built! Celebration, Florida, is master-planned community that was designed to give residents the feel of a small town, along with direct access to Disney World.  The homes of Celebration convey the styles from the early 20th century and are arranged into "villages" that surround the beautiful downtown area. People who call Celebration home have a true sense of community, especially through the programs and events that bring the community together.

The brick-lines streets of the Celebration Town Center offer outstanding shopping and dining.  You'll find a great variety of dining choices with restaurants such as Celebration Town Tavern, Imperium Food and Wine, Columbia Restaurant, Le Macaron, and more.

And don't worry about finding something to do here.  The Celebration Lifestyle and Parks and Recreation Departments has a wide range of programs, such as aquatic programs, ballroom and Irish dancing, and the Celebration Community Chorus to name a few.

Want to learn more about the Celebration life?  Visit our Celebration FL Real Estate and Community Information page to learn more about this amazing community and to search for your dream home today!

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Contact Information

Photo of Mark and Joni Coulter Real Estate
Mark and Joni Coulter
Better Homes and Gardens Fine Living
660 Celebration Ave., Suite 110
Celebration FL 34747
Fax: 888-741-0940