Hot Springs AR Real Estate Market is Heating Up
As we head into summer, it is a great time to review how the 2017 real estate market is doing so far. According to the “Market Watch”, there are 9 signs that the housing market will continue to get hotter. 1) Mortgage activity is strong: According to recent data from the Mortgage Bankers Association, purchase activity is up 3% year over year despite an increase in interest rates. While the longer-term trend for rates is higher, we are seeing a bit of relief right now as well-qualified borrowers start seeing rates of 4% or less —the lowest levels of 2017. That will only spark more activity in the coming months, fueling already high demand. 2) Unemployment is ultralow: the labor market is very tight and Americans are finding plenty of work. The headline unemployment rate fell to 4.4% in April as payrolls surged after a March lull. The details also were encouraging, with hourly pay up 2.5% year over year and hours worked slightly higher. A strong job market means more Americans w