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    24 Hours that Suddenly Improved the Market

    24 Hours that Suddenly Improved the Market | MyKCM

    This year started strong for real estate, but then the market began to soften. Home inventory in the starter and move-up categories dwindled to almost nothing, mortgage rates were projected to rise, and home sales had decreased for several months in a row.

    To many, the outlook heading into 2019 appeared dim… at best.

    Then, in a 24-hour window last week, things seemed to change. On Wednesday, the National Association of Realtors’ (NAR) revealed in their Existing Homes Sales Reportthat home sales had INCREASED for the second consecutive month. The next day, NAR’s economic research team announced that the percentage of first-time buyers in the market was higher than last month and even higher than a year ago.

    What happened to turn around the downward momentum in the market? 

    You only needed to wait a few hours to find out. On the heels of NAR’s revelations, Zillow released their November Real Estate Market Report that explained:

    “After nearly four years of annual declines in inventory, the number of homes for sale has now increased year-over-year for three straight months…”

    Ending 2018, we now know two things:

    1. Listing inventory increased over the last three months
    2. Home sales increased over the last two months

    Maybe a lack of inventory was the major challenge all along.

    But, what about those pesky interest rates?

    Last Thursday (the day after all of the above news), Freddie Mac announced that mortgage rates did not increase but instead decreased…again. From their release:

    “The response to the recent decline in mortgage rates is already being felt in the housing market. After declining for six consecutive months, existing home sales finally rose in October and November and are essentially at the same level as during the summer months.

    This modest rebound in sales indicates that homebuyers are very sensitive to mortgage rate changes – and given the further drop in rates we’ve seen this month, we expect to see a modest rebound in home sales as well.”

    Bottom Line

    Will 2019 start out better than many have predicted? Perhaps, but we’ll have to wait and see. Things do look much better today, though, than they did just a month ago.

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    Carin Nguyen

    Carin Nguyen takes the business of real estate very seriously and she has the track record to prove it. She holds the recent prestigious title and ranking of the #1 realtor in AZ for sides as awarded by the Wall Street Journal. Carin is an Arizona native and fully understands the complexities and changing landscape of the Arizona market. She has been in the real estate industry for over 10 year’s full time and comes by her expertise honestly, having honed it during years in the finance and mortgage industries. Education and knowledge is key in getting her buyers and sellers what they what. A rich resume built with a tireless commitment to her clients, undeniable proven past success and an uncompromised vision for the future create the recipe for complete customer satisfaction. Carin understands the potential emotional stress and sometimes life altering experiences felt by clients during the real estate transaction process. Carin is unyielding in insisting on complete professionalism from herself and her team while understanding that real estate is a personal business. She thrives on managing the details and individuality of each transaction and client. Her clients know that having Carin on their side means they have an advocate who cares about them and their needs. Carin is convinced that building relationships will ensure continued satisfaction and be reflected in future success. There is no denying what provides Carin with her constant strength. Her family is “at the heart of my motivation to push myself to achieve my goals and to be forthright in all that I do. My husband, Son, is my biggest source of support, my coach and my best friend. I am truly blessed with a loving husband and four great children who collectively strengthen my resolve to be the best at all my endeavors. I can be a wife and mother and still be a successful Realtor because I tackle everything with all that I have. My motto is ‘Working Hard To Get Homes Sold’ for a reason. I am thrilled that so many families have made me their real estate consultant.” A commitment to professionalism, an empathetic and understanding approach to her clients and an unstoppable and dependable force from her family all ensures success for Carin and most importantly, her clients

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