The National Association of Realtors reported good news for home sales this fall. According to their data, home sales were 4.4% higher annually. This stems from the boost in newly built home sales, lower 30-year fixed rates and an overall increase annually in pending home sales.
Across the country for-sale inventory has fallen but the demand has increased. October 2019, showed a major spike in sales of newly built homes compared to those reported in October 2018. Builders across the United States are focusing more on construction of more affordable homes.
Lower rates throughout this year has definitely pushed an increase in demand for new construction. The average 30-year fixed mortgage rates reached almost a full percentage point lower this October than it was a year ago. Reports are showing an increase in mortgage applications and this will continue as the lower interest rate holds.
All the regions reported an annually higher percentage in pending home sales. The Northeast reported a 3% higher increase, the Midwest was 1.8% higher, the South reported a 5.1% increase from this time last year and the West was a 7.5% increase.
“There is no shortage of buyers seeking homes,” said Lawrence Yun, chief economist at the NAR.
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Come get great ideas for the upcoming year for your home in Mandeville.
When: January 25 -226, 2020
10am – 5pm
Where: Castine Center, Pelican Park
63350 Pelican Blvd
Mandeville, LA 70448
What: Tickets are $5+.
Click Here For More Information.
Northshore Gumbo Cook-Off in Slidell benefiting community youth programs.
Northshore Gumbo Cook-Off
When: March 7, 2020
11am – 2pm
Where: Slidell Little Theatre
2024 Nellie Drive
Slidell, LA 70458
What: Tickets $10.00.
Click Here for More Information.
Come be a part of the 86th annual Sugar Bowl in New Orleans.
Allstate Sugar Bowl
When: January 1, 2020
7:45pm
Where: Superdome
1500 Sugar Bowl Drive
New Orleans, LA 70112
What: Click Here for More Information.
Lawrence Yun, chief economist of the National Association of Realtors predicts a new-home sales jump of 11% to 750,000 in 2020. The forecast would be the highest reading since 2007. This will bring a rise to a 13-year high in sales of new homes. If this is the case, 2020 will definitely avoid a recession. […]
See Santa along Lakeshore Drive in Mandeville.
Winter on the Water
When: December 7, 2019
4pm – 6pm
Where: Lakeshore Drive from Pontchartrain Harbor to the Gazebo
Mandeville, LA 70448
What: Click Here for More Information.
Join family and friends for holiday fun in Madisonville.
Merry Madisonville
When: December 7, 2019
2pm – 8pm
Where: Madisonville Town Hall
403 Saint Francis St.
Madisonville, LA 70447
What: Click Here for More Information.
Over 50 local vendors will be there in Covington.
Christmas in Louisiana
When: December 7 – 8, 2019
11AM – 4PM
Where: Coquille Sports Complex – Gym 1
13505 Hwy. 1085
Covington, LA 70433
What: Click Here for More Information.
Holiday music, local vendors, arts, crafts, food and more in Slidell.
Christmas in Olde Towne
When: December 6, 2019
5:00 PM to 10:00 PM
Where: Olde Towne Slidell
2200 Block of Carey St.
Slidell, LA 70458
What: Click Here for More Information.
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