The Real Estate markets in Boise, Eagle, Meridian, and beyond are looking up. National statistics are very positive too!
Pending Home Sales Surge - National Figures:
A pending home sale is simply a signed contract on a home that has not yet closed. The National Association of Realtors reported that we continued to see gains in home sales for the third consecutive month. The index rose 6.0% last month and 22.4% when compared to April 2009. The April increase follows a 7.1% in March and a 8.3% increase in February.
While certainly some of the gain can be attributed to the rush to get a contract signed prior to the end of the tax credit, there is definitely underlying demand as consistently low rates and increased consumer confidence in the housing market has helped to drive up demand for homes.
Unemployment Rate Drops:
The Labor Department reported that our nation's unemployment rate dropped from 9.9% to 9.7%.
Non-farm payrolls increases 431,000 in May. However, 390,000 new hires were due to the wave of census hiring. That means that only 41,000 private sector jobs were created. While this is an improvement, it was certainly much less than market expectations and a further sign that our recovery isn't as hot as once believed.
I specialize in home loans for first time home buyers, move up buyers, second home purchases, and resort lending. The loan products available to my clients include FHA, IHFA, VA, Conforming Conventional, Jumbo and Super Jumbo Portfolio.
My primary markets are Ada County (Boise, Eagle, Meridian, Kuna, Star), Canyon County (Nampa, Caldwell, Middleton), and Valley County (Cascade, Donnelly. Tamarack, McCall).
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