Home transaction activity is up since mortgage rates are down from their peak.
The US housing market perked up after mortgage rates plunged from their mid-summer peak through mid-September, even though they've experienced a remarkable resurgence since then.
Pending home sales rose 7.4% in September, which was the largest leap since the spring, a late-October report from the National Association of Realtors found.
"Further gains are expected if the economy continues to add jobs, inventory levels grow, and mortgage rates hold steady."
7 affordable cities with home inventoryEven though homeowners have been reluctant to give buyers a discount, there are still places where aspiring proprietors can find fair deals.
Persons:
—, they've, Lawrence Yun, Realtor.com, Ralph McLaughlin
Organizations:
Service, National Association of Realtors
Locations:
Realtor.com
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