December 2015 Market Update

December 2015 Market Update


Home sales slowed in October as inventory remained tight and prices continued their seasonal decline. As the end of the year approaches, consensus among economists is that the Federal Reserve will likely increase interest rates in December, making a trend of rising mortgage rates likely in the coming year. 
 
Interest Rates


 

Interest rates began trending up in November amid speculation of a rate increase by the Federal Reserve in December. Currently, Freddie Mac reports the following figures: 30-year fixed rate, 3.97%; 15-year fixed rate, 3.18%; 5/1-year adjustable rate, 2.98%. 
 
Home Sales

 

Homes sold at a seasonally adjusted annual rate of 5.36 million homes in October, a decrease of 3.4% from September and an increase of 3.9% from the same month last year. Tight inventory is likely weighing down sales late in the year and could be a persistent headwind through the colder months of the year. 
 
Home Price

 

Home prices continued their seasonal decline in October as the median home price declined to $219,600 according to the National Association of Realtors. This was a decrease of 0.9% from September and a year-over-year increase of 5.8%. As we move into the winter months, we should begin to see some seasonal alleviation on prices; however, year-over-year gains will likely remain strong. 
 
Inventory

 

The actual number of homes for sale in October was down 4.5% compared to the same month of the previous year. This led to the months supply of inventory, which measures the relationship between supply and demand, to rise slightly to 4.8 months due to the drop in sales. 

To learn more about how these numbers affect you give me a call today!


Deborah Boyd Headshot
Author:
Phone: 940-368-1306
Dated: December 14th 2015
Views: 884
About Deborah: My family has lived in North Texas for generations so I personally know the residential areas of Fri...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Three Reasons Homeowners May Be Waiting To Sell - When shopping for a house, you
SLAM Your Way Home A Criteria For Comparing Homes -  It’s called SLAM: an
May 22 2017 17359 1 - Selling Your Home? Is Your
Housing Outlook Sees Reason For Optimism - Over the past few years, a pattern

Our Bloggers

The Doyle Team * - 2
Comprar Casa DFW * - 2
Gabrielle Armstrong - 5
Cara Balderas - 50
Tami Bennett - 45
Justin Blackburn - 1
Jessica Boozer - 18
Rhonda Borgne - 1
Olivia Borowski - 1
Jennifer Boyd - 2
Deborah Boyd - 390
Jamie Brannagan - 1
Kathryn Brick - 1
Annette Bruen - 20
Moira Brunken - 18
Beverly Bryant - 23
Ana Cantu - 1
Lisa Cardillo - 53
Bob Cardillo - 4
Lucina Cervantes - 11
Gregory Cornett - 2
Angela Cotten - 81
Missie Craig - 12
Greg Cunningham - 2
Sarah Dieter - 9
Belinda Duff - 5
Leah Ecob - 15
Kristine Edens - 3
Jill Elliott - 99
Laneal Ernest - 9
Nicole Espinosa - 27
Christopher Evans - 1
Heather Feragotti - 8
Mark Fischer - 2
Susan Florsch - 12
Jennifer Flynn - 9
Leslie Fogle - 101
Larry Frassinelli - 6
Chad Gabriel - 58
Shalee Garza - 10
Timothy Gilliam - 2
Cassie Gillock - 2
Christina Gonzalez - 5
Wilma Goodwin - 2
William Graves - 5
Kristen Henderson - 1
Beth Herr - 1
Hunter Howard - 1
Sandra Hunt - 89
Bill Hurd - 3
Gary Hutchings - 20
Rachel Jama - 47
Trenton Johnson - 15
Felicia Johnson - 79
Dakota Joyner - 3
Jemi Khan - 26
Leigh Klotz - 5
Amber L Johnson - 8
Michele Lafortune - 22
Wanda Lewis - 2
Stacy Lynn Massar - 27
Jennifer Menting - 17
Mikki Migis - 8
Richard Mikus - 1
Sean Moniri - 21
Naddia Morales - 10
Keith Moses - 9
Mark Mulch - 19
Erick Murphy - 6
Steve Murray - 1
Julie Nicholson - 10
Nikki Okpuzor - 3
Alan Oliver - 7
Kelly Oltmann - 4
Kaysone Orlando - 1
Holli Paddio - 3
JP Piccinini - 50
Julie Ann Pickering - 85
Ann-Marie Pope - 2
John Priestash - 10
Joshua Putman - 111
Mimi Rader - 1
Shelia Randolph - 33
Teneka Ray - 1
Go 2 Girls Realty - 173
Bethany Rowan - 15
Kristi Roy - 1
Kelly Rumney - 9
Amy Jo Saenz - 3
Linda Scardis - 4
Sandy Setliff - 214
Christine Shannon - 29
Rene Sinclair - 27
Shelby Smith - 3
Bryce Smith - 5
Monica Solkhon - 1
Rodrigo Sotomayor - 16
Jenna Stanley - 9
Tim Stoll - 4
Kelley Stubbs - 3
Melodie Sulgrove - 1
Seana Taylor - 208
Mary Taylor - 14
Kevin Taylor - 15
Julian Taylor - 17
Erica Taylor - 52
Angela Taylor - 1
Karla Terrell - 2
Joey Thomas - 2
Michele Thompson - 6
Jason Todd - 24
Andrea Trimble - 55
Diane Velez - 17
Debbie Viverito - 132
Nick Walton - 75
Spring Weeks - 9
Michael Worley - 160
Keisha York - 30
Audra Young - 1
Debbie Zurita - 17

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

JP And Associates REALTORS
6175 Main Street #355 Frisco Texas 75034
Frisco, TX
972-375-9448
4692875503

Other Locations