Tag Archives: market update

Real Estate Market News – Gig Harbor Real Estate

Real Estate Market News – Gig Harbor Real Estate

“There’s no place like home.” News from the housing sector was front and center, and with rates remaining near historic lows, great opportunities remain for those looking to purchase or refinance.

Housing Starts sizzled in December, rising 4.4 percent from November to 1.089 million annualized units, coming in above expectations. The rise in Housing Starts was the strongest annual pace in seven years and it was led by a jump in starts for single-family homes, which reached their highest level since early 2008.

Building Permits, a sign of future construction, did decrease by nearly 2 percent in December but still came in at a strong 1.03 million. Both Building Permits and Housing Starts figures were also revised higher in November.

Also of note, the January National Association of Home Builders Housing Market Index was 57. Readings above 50 are considered positive sentiments about market conditions. Meanwhile, December Existing Home Sales rose from November. However, sales in 2014 were lower compared to 2013 due to a sluggish start in the beginning of the year. Overall, the housing sector continues to improve.

In news overseas, the European Central Bank has announced that it will enact a massive Quantitative Easing, or QE, style of Bond purchases to fight off deflation and promote economic growth in the region. The news has caused extreme volatility in U.S. markets. However, Mortgage Bonds and home loan rates (which are tied to Mortgage Bonds) remain near historic best levels.


Canterwood Market Update – Winter’s Grip on the Housing Sector

Home sales have been in a major rut for much of this year around the country and Gig Harbor real estate and Canterwood is no exception.

The good news is that winter’s grip on the housing sector is starting to lessen after a dismal winter around most of the country.

The next few months are important for the housing industry as  springtime often sees an uptick in buying. Families like to move in the summer so their kids can get a fresh start at school in late summer.

Economists expect the next few months to improve as pent up demand catches up to the housing sector.

Look for more SOLD signs in Canterwood in the months to come!

Current Canterwood Inventory: 40 active listings

Homes Pending/Sold in January- April: 9 homes

See more at: http://www.thelma4harborhomes.com/homes-for-sale-featured for our current invenory on Canterwood and Gig Harbor.