{"id":1945,"date":"2011-10-10T09:41:12","date_gmt":"2011-10-10T17:41:12","guid":{"rendered":"http:\/\/blog.movoto.com\/?p=1945"},"modified":"2011-10-10T09:41:12","modified_gmt":"2011-10-10T17:41:12","slug":"september-real-estate-market-summary","status":"publish","type":"post","link":"https:\/\/www.movoto.com\/blog\/september-real-estate-market-summary\/","title":{"rendered":"September Real Estate Market Summary"},"content":{"rendered":"<p>T.S. Eliot famously said &#8220;April is the cruellest month&#8230;&#8221;. \u00a0Not true in real estate &#8211; the cruelest months are upon us as the real estate market rolls into its annual end of the year hibernation.<br \/>\nA quick update on current real estate market conditions across our coverage area:<\/p>\n<ul>\n<li>Prices continue near May 2011 levels;<\/li>\n<li>Interest rates are AMAZINGLY low (<a href=\"http:\/\/t.ymlp203.net\/uyyqaoaumyyaaaewadaejqey\/click.php\">Bankrate.com<\/a>);<\/li>\n<li>August sales volume was up from July 2011 (<a href=\"http:\/\/t.ymlp203.net\/uyyyaxaumyyadaewavaejqey\/click.php\">NAR report)<\/a><\/li>\n<li>Refinance applications are up and purchase loan applications are down from last year\u00a0(<a href=\"http:\/\/t.ymlp203.net\/esssaxaumyyagaewapaejqey\/click.php\">Mortgage Bankers Assoc. Report<\/a>);<\/li>\n<li>and inventory continues a slow decline that started in May 2011.<\/li>\n<\/ul>\n<p>So how is the real estate market really doing? \u00a0We think\u00a0it&#8217;s too early to take away the handicapped sticker. \u00a0Looking at NAR&#8217;s reported unit sales for the first 8 months of 2011, year-to-date sales are actually down 1.8% from 2010. \u00a0Consider that sales are down with historically low interest rates, an economy that was considered &#8220;healthy&#8221; through July and a somewhat lower unemployment rate in 2011 than in 2010. \u00a0It seems to us that since the first-time buyer stimulus ended in April, 2010 the US home market has been going nowhere.<br \/>\nCheck your local market stats on Movoto.com:\u00a0\u00a0<a href=\"http:\/\/t.ymlp203.net\/essuaraumyyakaewafaejqey\/click.php\">https:\/\/www.movoto.com\/market-statistics.aspx<\/a><br \/>\n<strong>Trying to Predict Inventory? Watch Foreclosures.<\/strong><br \/>\nIn September, inventory of homes priced under $250,000 was steady and low. \u00a0We think 2012 will bring an increase in lower priced inventory in states that don&#8217;t require court judgements to foreclose. \u00a0<a href=\"http:\/\/t.ymlp203.net\/esseafaumyyaxaewalaejqey\/click.php\">LPS<\/a>\u00a0reported\u00a0Notice of Default counts climbed in August and September\u00a0as banks got back in the business of moving on deliquencies. \u00a0By early 2012 the increased notices will move through the foreclosure process and become actual home listings. LPS&#8217;s data also shows fewer home owners getting behind on their payments &#8211; is this a positive hint for 2012 or 2013?<br \/>\n<strong>Watch for More Help from Washington<\/strong><br \/>\nDid you know that Fannie Mae has been having a foreclosure sale, offering up to 3.5% in closing cost assistance for owner occupying buyers of Fannie Mae owned properties? \u00a0You have to close escrow by Oct. 31, so it&#8217;s too late to get into contract now, but look for more programs like this after January 1. \u00a0The government sponsored mortgage agencies all own a lot more homes than they want and they&#8217;re motivated to sell to first time buyers who will occupy the home.<br \/>\nExpect the &#8220;cruellest months&#8221; to\u00a0show a typical seasonal pattern with inventories and sales slowly declining into the holiday season and prices remaining stable.\u00a0 If you&#8217;re renting and you have good credit, the end of 2011 and early months of 2012 are a great time\u00a0to consider buying. \u00a0The double effect of low prices and low interest rates is creating a rare situation where buying is a much better deal than renting in most of the country. \u00a0 Call us if you want help thinking it through.<br \/>\nThe <a href=\"http:\/\/t.ymlp203.net\/uyywazaumyyalaewavaejqey\/click.php\">Movoto<\/a> Team<br \/>\n888-766-8686<br \/>\n<strong>Check out these recent Movoto Blog Posts<\/strong> for more news about the real estate market and recent \u00a0Movoto.com improvements:<br \/>\n<a href=\"http:\/\/t.ymlp203.net\/essmagaumyyaiaewafaejqey\/click.php\">https:\/\/www.movoto.com\/blog\/real-estate\/new-feature-private-notes-for-homes\/<\/a><br \/>\n<a href=\"http:\/\/t.ymlp203.net\/essmagaumyyaiaewafaejqey\/click.php\">\u00a0<\/a><a href=\"https:\/\/www.movoto.com\/blog\/homes-for-sale\/rising-home-values-make-these-10-metro-markets-hot\/\">https:\/\/www.movoto.com\/blog\/homes-for-sale\/rising-home-values-make-these-10-metro-markets-hot\/<\/a><br \/>\n<a href=\"http:\/\/t.ymlp203.net\/essjanaumyyadaewazaejqey\/click.php\">https:\/\/www.movoto.com\/blog\/real-estate-trends\/2012-housing-market-10-areas-anticipating-further-collapse-this-year\/<\/a><br \/>\n<a href=\"http:\/\/t.ymlp203.net\/essbadaumyyaraewaiaejqey\/click.php\">https:\/\/www.movoto.com\/blog\/interest-rate\/borrowers-we-have-5-home-refinance-tips-for-you\/<\/a><br \/>\n<a href=\"http:\/\/t.ymlp203.net\/esshavaumyyafaewadaejqey\/click.php\">https:\/\/www.movoto.com\/blog\/category\/product\/<\/a><br \/>\nIf you&#8217;re ready to move, find out how our partner <strong>The Home Depot<\/strong> can <a href=\"http:\/\/t.ymlp203.net\/esswakaumyyaiaewadaejqey\/click.php\"><strong>Make Moving Easier<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>T.S. Eliot famously said &#8220;April is the cruellest month&#8230;&#8221;. \u00a0Not true in real estate &#8211; the cruelest months are upon us as the real estate market rolls into its annual end of the year hibernation. A quick update on current real estate market conditions across our coverage area: Prices continue near May 2011 levels; Interest rates are AMAZINGLY low (Bankrate.com); August sales volume was up from July 2011 (NAR report) Refinance applications are up and purchase loan applications are down from last year\u00a0(Mortgage Bankers Assoc. Report); and inventory continues a slow decline that started in May 2011. So how is [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[42],"tags":[],"class_list":["post-1945","post","type-post","status-publish","format-standard","hentry","category-real-estate-tips","post--single"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>September Real Estate Market Summary<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.movoto.com\/blog\/september-real-estate-market-summary\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"September Real Estate Market Summary\" \/>\n<meta property=\"og:description\" content=\"T.S. Eliot famously said &#8220;April is the cruellest month&#8230;&#8221;. \u00a0Not true in real estate &#8211; the cruelest months are upon us as the real estate market rolls into its annual end of the year hibernation. A quick update on current real estate market conditions across our coverage area: Prices continue near May 2011 levels; Interest rates are AMAZINGLY low (Bankrate.com); August sales volume was up from July 2011 (NAR report) Refinance applications are up and purchase loan applications are down from last year\u00a0(Mortgage Bankers Assoc. Report); and inventory continues a slow decline that started in May 2011. 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Eliot famously said &#8220;April is the cruellest month&#8230;&#8221;. \u00a0Not true in real estate &#8211; the cruelest months are upon us as the real estate market rolls into its annual end of the year hibernation. A quick update on current real estate market conditions across our coverage area: Prices continue near May 2011 levels; Interest rates are AMAZINGLY low (Bankrate.com); August sales volume was up from July 2011 (NAR report) Refinance applications are up and purchase loan applications are down from last year\u00a0(Mortgage Bankers Assoc. Report); and inventory continues a slow decline that started in May 2011. 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