“What Effect does the Bad Weather have on Real Estate Sales and Mortgages?”
December 31st, 2013 I had 38 preapprovals out to folks that wanted to buy a home. Just to illustrate only 6 have homes on deposit. Since I track all my numbers, here is how my numbers usually work. Once I have issued a preapproval 70% of these folks will have a home on deposit within 60 days. The simple answer, the weather has had an effect on real estate sales and in turn, mortgages.
Based on all the pent up demand for those that want to buy a home, this Spring will bring lots of transactions.