The election has passed and housing continues to gain momentum as we head into the holiday season.
Fed minutes out today indicated that Ben and his gang are interested in perhaps modifying the bond buying program known as QE3 once Operation Twist comes to an end next month.
This of course will help keep mortgage rates at very low levels, which in turn helps to support our housing market in the form of more affordable credit.
Since the election, mortgage rates have continued their strong run.
Triangle Multiple Listing Service data for October was released this week, delivering blistering results for Triangle Housing.
Below are key bullet points for the overall Triangle region. In year over year data between October of last year and this year, we’ve seen improvements in the following categories:
- Closed Sales are up 31.1%
- New Listings are up 11.8%
- Median Home Prices are up 2.7%
- Days on Market have decreased by 6.6%
- Overall supply of inventory has decreased by 34.3%
As you can clearly see, Triangle housing fundamentals remain strong, and with the continued support of the FOMC, we should see these numbers improve well in to 2013.