After a disappointing September, October median list pricing has gone up a bit. Thanks to climbing earnings, expanding jobs and low mortgage rates, according to the latest National Association of REALTORS report sales throughout the US have gone up however Padre Island’s closed sales went down 12.7%.
Historically low interest rates, continuing job expansion, higher weekly earnings and low mortgage rates are undoubtedly going to cause higher sales.
It is nice to see home list prices starting to rise again. Let’s hope these conditions continue to remain favorable for real estate investment on Padre Island.