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Schmidt Mortgage Company Blog

Good news and bad news for home buyers: Price cuts on the rise, but size of reductions getting smaller

There were significantly more homes that experienced a price cut in August, according to new data released by Trulia. According to a report by the real estate listing site, 17.2 percent of US listings had a price reduction, an increase from 16.7 percent in August 2017. This marks the highest level of price cuts since 2014. The Good News – More Homes Are Getting Price Cuts Trulia’s report revealed that in the first half of 2018 the share of listings with a price cut held steady from 2017; however, the number began to climb in July and August. The report indicates

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Consumer Confidence Hits 18-Year High

Consumer confidence rose in September, reaching the highest level in 18 years. According to the results of a survey conducted by the Conference Board, a global independent research organization, consumer confidence hit 138.4 in September, surpassing August’s level of 134.7. This is close to the all-time high of 144.7 in 2000, the Conference Board stated.  Economists at Reuters estimated consumer confidence level to reach 132 in September. “Consumers’ assessment of current conditions remains extremely favorable, bolstered by a strong economy and robust job growth,” said Lynn Franco, director of economic indicators at the Conference Board. “These historically high confidence levels should

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Existing-Home Sales Remain Steady in August

The sales of existing homes in the U.S. held steady in August after four consecutive months of decline, according to the latest data released from the National Association of Realtors®. Regionally, existing-home sales were up in the Northeast and Midwest, essentially cancelling out declines in the West and the South.  “Strong gains in the Northeast and a moderate uptick in the Midwest helped to balance out any losses in the South and West, halting months of downturn momentum,” said NAR Chief Economist Lawrence Yun in a press statement. “With inventory stabilizing and modestly rising, buyers appear ready to step back into

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Akron

1953 Englewood Ave.
Akron, OH 44312
Phone: (330) 798-4677
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Rocky River

20545 Center Ridge Road
Suite 250
Rocky River, OH 44116
Phone: (440) 356-3242
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Willoughby

35104 Euclid Ave.
Suite 202
Willoughby, OH 44094
Phone: (440) 953-0447
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