Sales are down, prospects are good

In a bit of good news / bad news, pending home sales (contract signings) decreased by 2.2 percent in December but the Federal Reserve’s announcement that they don’t foresee any increases in the interest rate for the future has already sent mortgage rates tumbling.

Moreover, the government shutdown did not have any significant impact on home sales although analysts warned that a second shutdown could have more severe consequences.

Overall, the National Association for Realtors expressed confidence that 2019 would be strong year for home sales.

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