Market bouncing back in October 2017?

Highlights

• National home sales rose 0.9% from September to October 
• Actual (not seasonally adjusted) activity stood 4.3% below last October's level
• The number of newly listed homes edged back by 0.8% from September to October
• The MLS Home Price Index (HPI) was up 9.7% year-over-year in October
• The national average sale price climbed by 5% year-over-year in October

The Realtors Association of Hamilton/Burlington (RAHB) reported 1,317 sales were processed through the RAHB MLS System in October, 6.5% higher than the same month last year, and 10.9% higher than the 10 year average.
 
The actual (not seasonally adjusted) national average price for homes sold in October 2017 was just under $506,000, up 5% from one year earlier.
 
"One of the unknowns right now is how new mortgage guidelines coming into effect January 1, 2018 may influence listings and sales over the next two months," noted RAHB CEO George O'neill. "Buyers and sellers who are contemplating buying or listing their home in the near future should contact a Realtor to find out how the new guidelines may affect them."
 
 If you have any questions about today's real estate market, or the new mortgage rules, feel free to contact me!
 
Mike Mossuto
Keller Williams Complete Realty