Pennsylvania Home Sales Up 11 Percent in 2015 – NMP Skip to main content

Pennsylvania Home Sales Up 11 Percent in 2015

NationalMortgageProfessional.com
Jan 18, 2016

Pennsylvania existing home sales were up 11 percent at the end of 2015 compared to the end of the previous year, according to a report published today by the Pennsylvania Association of Realtors (PAR). Closed sales numbered 160,950, compared to 144,541 in 2014. Pending sales were also up nearly 13 percent at the end of 2015, over 2014.

"We're continuing to see steady growth over the past four years in most markets throughout the commonwealth," said PAR President Todd Polinchock. "Positive economic influences like improving employment figures and continuing low mortgage interest rates help create a more balanced housing market."

The median price gained traction, increasing 1.5 percent to $170,000 at the close of 2015, up from $167,500 in 2014. The number of days a home is on the market continued to fall nearly five percent, with the year end at 80 days, compared to 84 days a year ago.

"Consumers looking to purchase a home will find affordable options," Polinchock added. "New listings continue to enter the market, rising around 4.5 percent in 2015. Sellers' confidence is well-founded as we see houses selling at nearly 93 percent of the original list price.

Published
Jan 18, 2016
Biden Reappoints Powell As Federal Reserve Chairman

A signal that The Fed will continue its policies as inflation surges and economic uncertainty spikes due to an emerging variant of the coronavirus. 

Industry News
Nov 29, 2021
Servion Taps Sagent For Consumer-First Servicing Tech Stack

A 7-year deal between Servion Mortgage and Sagent will equip Servion with Sagent's tech stack for performing, non-performing, and consumer experience.

Tech
Nov 29, 2021
Guaranteed Rate's Banosian Funds $2B In Total Loan Volume

The mortgage industry shouldn't be surprised by Guaranteed Rate's top loan officer, Shant Banosian, funding $2 billion in total loan volume during a record-breaking year. After all, “The Billion Dollar Man” is one of the top 5 loan originators in the U.S.

Wholesale
Nov 29, 2021
Chairman Xu Sells Off Personal Assets To Avoid Default

The Evergrande saga continues as Chairman Xu Jiayin sells off 7 billion yuan ($1.1 billion) of his personal assets to prop up the deflating property giant.

Industry News
Nov 23, 2021
OptiFunder Secures $25 Million In Capital

OptiFunder, a warehouse management system provider for mortgage originators, raised $25 million in additional capital lead by Arthur Ventures, a growth capital firm focused on high-growth, founder-led and capital efficient B2B software companies.

Tech
Nov 23, 2021
Mortgage Company Donates $100K To High School In Memory Of Fallen U.S. Navy Corpsman

Cleveland-based CrossCountry Mortgage donated $100,000 to Milan Edison High School in memory of U.S. Navy Corpsman, Maxton W. Soviak, who died while assisting in the evacuation of Americans and refugees in Afghanistan in August.

Community
Nov 23, 2021