In TV commercials, the idea is to get the point across as
economically as possible. That’s why, when the theme is a thriving business,
they show a graph with lines that move up (often at an angle that would worry a
mountain goat). It makes for an easily grasped, direct message.
Alas, graphs showing Metairie and New Orleans home sales never seem to show such neat, orderly trajectory—and
that’s for any number of reasons. For instance, if some closings happen to be
delayed by a day or two for clerical reasons, they may show as having fallen out
of one month, only to show up the next. The real world is like that.
Keeping track of national home sales
numbers is subject to the interventions of that same stubbornly real world, of
course; so when home sales registered a slight drop in August, few seasoned
analysts saw it as an emerging trend…or so it seemed.
That reading was confirmed when it turned
out existing U.S. home sales notched the fastest pace of the year in September.
Commentators who had been noting the August falloff picked up on the shift
quickly. A few gleanings:
“…existing home sales increased
2.4 percent to an annual rate of 5.17 million units, the strongest reading
since September of last year.” –Reuters
“…single-family homes, townhomes, condominiums and co-ops,
increased 2.4 percent to a seasonally adjusted annual rate of 5.17 million in
September from 5.05 million in August. Sales are now at their highest pace of
2014”–the Realtor®
“…Sales in September were up 17% from a year earlier…in the
U.S. rose…to a seasonally adjusted annual rate of 467,000…”–The Wall St. Journal
Area homeowners have been hoping that the
continued level of low mortgage interest rates would spur home sales in
Metairie and New Orleans, especially now that regulators are working on
relaxing tough regulations that have discouraged lenders from issuing loans to
any but the most prime credit risks. Young people and others with less than
stellar credit have sometimes found themselves eyeing those low rates, but frustratingly
unable to take advantage of the situation. It has been a real weak point in the
housing rebound, so opening up the mortgage spigots would allow many first time
Metairie and New Orleans home buyers a chance to enter the market.
In case you have a rooting interest in the
Metairie and New Orleans home sales picture either as potential buyer or
seller, don’t hesitate to give me a call to discuss the outlook for this fall and winter.
Questions about buying or selling a home?
Call Terez B. Harris
504.297.2619
View Homes For Sale in Metairie
View Homes For Sale in New Orleans
Terez B. Harris
Terez Harris NOLA Realtor Group
Terez Harris NOLA Realtor Group
(504)297-2619
www.TerezHarris.com
TerezHarris@kw.com
Search the MLS!
(multiple listing service)
Search Terez's Active Listings!
TerezHarris@kw.com
Search the MLS!
(multiple listing service)
Search Terez's Active Listings!
Terez B. Harris Terez Harris NOLA Realtor Group 504-297-2619 www.TerezHarris.com
Keller Williams Realty New Orleans 8601 Leake Ave. New Orleans, LA 70118 504-862-0100
Keller Williams Realty New Orleans 8601 Leake Ave. New Orleans, LA 70118 504-862-0100
Each office independently owned and operated. All brokers and agents licensed in the state of Louisiana.
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