The Housing Trend is Looking Up
Since at Estes Designs Mailbox and Streetscapes we partner with many homebuilders, property managers and homeowner’s associations, we actively review trends related to the housing market. Earlier this month, Housing Wire posted an article about how the number of homes being purchased are increasing again.
Although the rates are not the same as they were before the COVID-19 pandemic, the trends are looking up. According to a report from Mortgage Bankers Association, purchase applications rose 6% in April. As expected, the economy took a hit from this pandemic, but as businesses are beginning to open up, the U.S. states will start resuming some level of economic activity.
Increase in Purchase Applications and Prices
Along with the increase in purchase applications, home prices are increasing, as well. The median home price rose approximately 8% to $280,600 in March, according to the National Association of Realtors. In a recent Wall Street Journal article, some sellers are reluctant to reduce the price of their home because buyers haven’t viewed the home in person or do not want to make offers right now, not because the price is too high. Prices in the Midwest have shown the strongest annual growth at 9.7% in March. According to Norada Real Estate Investments article, the median sales price in Indiana saw a year-over-year increase of 9.7 percent to $170,000.
If you’ve been considering selling your home or recently purchased a home, focusing on your home’s mailbox is an easy way to quickly add curb appeal. Start your upgrade today by purchasing a new mailbox or one of our mailbox accessories. Contact us online, via phone at (317) 899-5556, or email [email protected].