A Slippery Slope for Housing

The housing market is continually changing and although we have forecasts, you never really know what could happen. February was a great month for new and existing home sales, while March didn't do as well. Take a look below at how the housing market is doing so far this year and consider a new home loan at the Lake of the Ozarks today!

New Home Sales 

March may roar in like a lion, but that's not the same story for March's New Home Sales. Unexpectedly, they fell by 11.4%, a huge contrast from February's figures showing the strongest performance in 7 years. The harsh winter that froze construction in January and February may not thaw performance for April's and May's sales figures.

Existing Home Sales

On a different note, Exisiting Home Sales in March surged just over 6% from February. This was the largest monthly increase since December 2010. Sales are also up over 10% from a year ago. After a quiet start to the year, sales activity picked up signigicantly throughout the country in March.

Economic and Housing Outlook

Fannie Mae released its April 2015 Economic and Housing Outlook revealing that economic activity slowed in the first quarter, largely due to West Coast port disruptions and difficult weather patterns gripping much of the Northeast. This was also reflected in the first reading for first quarter 2015 Gross Domestic Product (GDP). GDP fell to 0.2%. Now that spring has arrived, it will be important to see if economic activity blooms along with the weather.

Home loan rates remain very attractive, making now a great time to consider a home purchase or refinance at the Lake of the Ozarks! When it comes to your financing needs, your Lake of the Ozarks mortgage lender is committed to working with you every step of the way. I'll discuss financing options, offer competitive rates and back it up with the first class service you deserve. Give me a call at 573-746-7211 today!

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Michael Lasson

Sr. Residential Mortgage Lender

NMLS #: 493712

2265 Bagnell Dam Blvd, Suite B

PO Box 1449

Lake Ozark, MO 65049

Direct:  (573) 746-7211

Cell: (573) 216-7258

Fax:(573) 693-9141

Email:  mlasson@fsbfinancial.com

**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.