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Housing Inventory Continues to Grow
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You're Now Reading:
Housing Inventory Continues to Grow
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Housing Inventory Continues to Grow
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Mortgage Rates
Home Buying Tips
Home Selling Tips
About Mortgages
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Mortgage Rates

Tight inventories and rising list prices enticed more homeowners to put their homes up for sale as total listings jumped nearly six percent from April to May according to the latest housing data of 146 metro areas released by Realtor.com.

The total number of existing homes for sale increased 5.82 percent from April to May with 1,852,740 single-family homes, condos, townhomes, and co-ops listed for sale during the month. Compared to a year ago, there were still 10.11 percent fewer homes available for purchase during the month.

The median list price for an existing home in May was $199,000, up 2.10 percent from April and up 4.79 percent from May of last year.

Year-over-year, four of the top five area’s with the most improved list prices were located in California led by a 42.45 percent increase in the Sacramento area followed by a 38.27 percent gain in Oakland. Detroit (+31.73) was the lone non-California city to make the top five with San Jose (+30.58%) and the Los Angeles-Long Beach area (+27.80%) taking the last two spots. California cities held seven of the top ten spots where listing prices have increased year-over-year with Phoenix and Reno being the other two non-California cities to break the top ten.

The area’s suffering the greatest decline in median list prices were Springfield, IL (-8.89%), Little Rock-North Little Rock, AR (-5.47%), Fort Wayne, IN (-5.02%), South Bend, IN (-4.71%) and Peoria-Pekin, IL (-4.71%).

List prices are not necessarily indicative of selling prices, but may signal market sentiment by sellers. All together, one hundred of the areas saw an increase in list prices, while ten areas were unchanged from the previous year.

The average number of days that an existing home spent on the market fell to 79 in May from 81 in April and was down from 91 days in May of last year. Only 15 out of the 146 metropolitan areas required 100 or more days to sell a home.

Residents selling their homes in the southern region of South Carolina continued to wait the longest to sell their homes, averaging 144 days on the market. Residents in Oakland had the shortest wait for the 20th consecutive month, averaging 16 days on the market.

Tags: housing inventory, listed homes, home prices, median sales price, average list price

Source:
Realtor.com

Reported by Chris Moore

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at Mortgageloanrateupdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates

Tight inventories and rising list prices enticed more homeowners to put their homes up for sale as total listings jumped nearly six percent from April to May according to the latest housing data of 146 metro areas released by Realtor.com.

The total number of existing homes for sale increased 5.82 percent from April to May with 1,852,740 single-family homes, condos, townhomes, and co-ops listed for sale during the month. Compared to a year ago, there were still 10.11 percent fewer homes available for purchase during the month.

The median list price for an existing home in May was $199,000, up 2.10 percent from April and up 4.79 percent from May of last year.

Year-over-year, four of the top five area’s with the most improved list prices were located in California led by a 42.45 percent increase in the Sacramento area followed by a 38.27 percent gain in Oakland. Detroit (+31.73) was the lone non-California city to make the top five with San Jose (+30.58%) and the Los Angeles-Long Beach area (+27.80%) taking the last two spots. California cities held seven of the top ten spots where listing prices have increased year-over-year with Phoenix and Reno being the other two non-California cities to break the top ten.

The area’s suffering the greatest decline in median list prices were Springfield, IL (-8.89%), Little Rock-North Little Rock, AR (-5.47%), Fort Wayne, IN (-5.02%), South Bend, IN (-4.71%) and Peoria-Pekin, IL (-4.71%).

List prices are not necessarily indicative of selling prices, but may signal market sentiment by sellers. All together, one hundred of the areas saw an increase in list prices, while ten areas were unchanged from the previous year.

The average number of days that an existing home spent on the market fell to 79 in May from 81 in April and was down from 91 days in May of last year. Only 15 out of the 146 metropolitan areas required 100 or more days to sell a home.

Residents selling their homes in the southern region of South Carolina continued to wait the longest to sell their homes, averaging 144 days on the market. Residents in Oakland had the shortest wait for the 20th consecutive month, averaging 16 days on the market.

Tags: housing inventory, listed homes, home prices, median sales price, average list price

Source:
Realtor.com

Reported by Chris Moore

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

Tight inventories and rising list prices enticed more homeowners to put their homes up for sale as total listings jumped nearly six percent from April to May according to the latest housing data of 146 metro areas released by Realtor.com.

The total number of existing homes for sale increased 5.82 percent from April to May with 1,852,740 single-family homes, condos, townhomes, and co-ops listed for sale during the month. Compared to a year ago, there were still 10.11 percent fewer homes available for purchase during the month.

The median list price for an existing home in May was $199,000, up 2.10 percent from April and up 4.79 percent from May of last year.

Year-over-year, four of the top five area’s with the most improved list prices were located in California led by a 42.45 percent increase in the Sacramento area followed by a 38.27 percent gain in Oakland. Detroit (+31.73) was the lone non-California city to make the top five with San Jose (+30.58%) and the Los Angeles-Long Beach area (+27.80%) taking the last two spots. California cities held seven of the top ten spots where listing prices have increased year-over-year with Phoenix and Reno being the other two non-California cities to break the top ten.

The area’s suffering the greatest decline in median list prices were Springfield, IL (-8.89%), Little Rock-North Little Rock, AR (-5.47%), Fort Wayne, IN (-5.02%), South Bend, IN (-4.71%) and Peoria-Pekin, IL (-4.71%).

List prices are not necessarily indicative of selling prices, but may signal market sentiment by sellers. All together, one hundred of the areas saw an increase in list prices, while ten areas were unchanged from the previous year.

The average number of days that an existing home spent on the market fell to 79 in May from 81 in April and was down from 91 days in May of last year. Only 15 out of the 146 metropolitan areas required 100 or more days to sell a home.

Residents selling their homes in the southern region of South Carolina continued to wait the longest to sell their homes, averaging 144 days on the market. Residents in Oakland had the shortest wait for the 20th consecutive month, averaging 16 days on the market.

Tags: housing inventory, listed homes, home prices, median sales price, average list price

Source:
Realtor.com

Reported by Chris Moore

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.