Real Estate Information and Homes For Sale

Times are tough if you're a renter. The Census Bureau reports that vacancy rates are at a 30-year low, at 6.8%.  That can mean only one thing – rising rents.  Rents have already climbed 3.5% in the past 12 months through June. The median asking price for monthly rent is now above $800, a new record. Things are unlikely to improve. Economists at Capital Economics Ltd., in a note to clients, wrote, "Our forecasts that rents will grow at an annual rate of 5% both this year and next would represent the fastest rate of rental growth since the 1980s."

Relentless rent inflation should help reverse the downtrend in the homeownership rate, which is at a 48-year low.  We see more people motivated to lock in a predictable monthly payment.  If you pay $800 in monthly rent, in five years you'll pay $1,021 if rents rise 5% annually. If they rise 3.5% annually, as they have over the past 12 months, you'll still be paying $950 in monthly rent.

Low vacancy rents and relentless rent increases are yet more reasons to remain bullish on the long-term out lookout for home sales. 

 Information provided by Jessica Regan.

Search all Harrisburg PA homes for sale.

When you are buying or selling property in today's Harrisburg PA real estate market, it's important to have confidence in your real estate professional. Don’s commitment as your Harrisburg PA REALTOR® is to provide you with the specialized real estate service you deserve.

When you are an informed buyer or seller, you'll make the best decisions for the most important purchase or sale in your lifetime. That's why Don’s goal is to keep you informed on trends in Harrisburg PA real estate. With property values continuing to rise, real estate is a sound investment for now and for the future.

As a local area expert with knowledge of Harrisburg PA area communities, Don’s objective is to work diligently to assist you in meeting your real estate goals.

If you are considering buying or selling a home or would just like to have additional information about real estate in your area, please don't hesitate to call me at (717) 657-8700, complete my online form, or e-mail me at don@donroth.com.

Housing Still On Track for a Strong 2015

Home builders are as optimistic as they've been for nearly a decade. The National Association of Home Builders/Wells Fargo Housing Market Index rose a point this month to register at 61. This is the highest reading since November 2005.  

Sentiment is usually driven by activity. The good news is that activity remains strong. Housing starts rose 0.2% to an annual rate of 1.21 million homes in July. Nearly all the gains were recorded in the important single-family component, which shot up 12.8% to 782,000 homes. 

To be sure, existing-home sales produce the lion's share of transaction activity, but new-home sales and new-home construction contribute much more to overall economic activity. Residential investment has historically averaged roughly 5% of gross domestic product, according to NAHB data. That we continue to see strong home-builder activity bodes well for the overall economy.

The good news is that it continues to climb toward the important 1.5 million annual average. Historically 1.5 million has been the marker that lets you know the economy is hitting its stride. 

With that said, is the sword of Damocles about to break free and end the good times? 

We again refer to the Federal Reserve and interest rates. We've mentioned many times how fickle markets are, and credit markets are as fickle as any. After China devalued its currency last week, many market participants changed their bets: They bet the Fed wouldn't raise the federal funds rate next month. Now, it appears that many bets were placed in haste. The federal funds futures market now shows that traders are pricing futures contracts for a 45% chance the Fed will raise the federal funds rate next month. 

Mortgage rates have been less fickle than most, having trended lower in the past month. The 30-year fixed-rate loan priced below 4% has again become the new norm.  An increase in the federal funds rate could easily change that, though, with above-4% supplanting sub-4%. 

Since the beginning of the year, we've been skeptical of impending Fed action on interest rates. Nevertheless, pressure is mounting on the Fed to do something. But as the Fed itself has said, any decision will be “data” dependent. The employment situation for August could be the datum that tilts the scales. If job growth comes in strong – 250,000 or higher – for August, the Fed could well decide to raise the federal funds rate.  Below that, and it's anyone's guess.

We wouldn't be surprised either way, and either way we still see strong home sales and construction activity through the remainder of the year. As for mortgage rates, we still think current rates are about good as it's going to get.    

Information provided by Jessica Regan.

Search all Harrisburg PA homes for sale.

When you are buying or selling property in today's Harrisburg PA real estate market, it's important to have confidence in your real estate professional. Don’s commitment as your Harrisburg PA REALTOR® is to provide you with the specialized real estate service you deserve.

When you are an informed buyer or seller, you'll make the best decisions for the most important purchase or sale in your lifetime. That's why Don’s goal is to keep you informed on trends in Harrisburg PA real estate. With property values continuing to rise, real estate is a sound investment for now and for the future.

As a local area expert with knowledge of Harrisburg PA area communities, Don’s objective is to work diligently to assist you in meeting your real estate goals.

If you are considering buying or selling a home or would just like to have additional information about real estate in your area, please don't hesitate to call me at (717) 657-8700, complete my online form, or e-mail me at don@donroth.com.

Real talk: How many coffee mugs does one household need?

You probably started out with one or two go-to mugs. But time flies, and all of sudden, your pantry is overflowing with kitsch coffee mugs. Those mugs may seem innocent enough, but clutter can be a serious source of stress.

If clutter is stressing you out, you don’t need to overhaul your entire house. Start with repeat items. These are the things you really only need one or two to function, but somehow own ten.

Not sure what we mean? Here are a few extraneous items to toss today:

1. Books You’ve Read

This one may be controversial, but hear us out. Although it’s easy to get attached to your favorite stories, books can quickly equal clutter, dusty shelves and wasted space. Share the knowledge and donate your read books to schools or used bookstores. Then, give your local library card some exercise. Bonus: If you switch to borrowing from the library, you’ll save some cash, too.

2. Reusable Shopping Bags

Assess what you really need. If you generally leave the grocery store with three bags, keeping four is appropriate. Once you exceed four, you’ve entered the scary-pile-shoved-under-the-sink phase. Avoid that at all costs!

3. Vases

Unless you have a constant supply of cut flowers coming into the house, a cabinet full of vases will likely never come in handy. Pare down your collection to the vases with sentimental value and toss the rest.

4. DVDs and CDs

In the era of Netflix, these guys have basically become irrelevant and can take up a lot of space. If you watched or listened to it 20 times, and you’re ready for 20 more, you should keep it. If you’re likely to never use it again, away it goes.

Don’t want to say goodbye to your collection but are interested in having more space? Try downloading the movies & MP3s onto an external hard drive.

5. Coffee Mugs

When it comes to dishware, we recommend having enough for one week, and then it’s time to do the dishes. So, if you drink coffee every morning, save your favorite seven mugs and donate the rest.

6. Magazines

Limit your magazines to the coffee-table collection. Keep the most recent issues available and make a one-for-one trade when you pick up a new read.

7. Tech Clutter

Audit your desk or junk drawer for duplicate cords, chargers and that phone you used ten years ago. Once you’ve trimmed your collection to only the necessities, organize your tech clutter.

8. Toys

Whether they are for your child, your pet or your niece that comes over on occasion, keep the collection fresh. Only hang on to the most sentimental and recent additions to the toy collection. Depending on how often the toys are being used, choose a fair number of toys to be the base of the collection, and then adopt the one-in-one-out policy.

9. Linens

Limit yourself to two sets of sheets and towels. This will save space in your linen closet and won’t let laundry pile up. Plus, you’ll stop holding onto old, dirty linens “just in case.”

10. Tupperware

The days of saving old takeout food containers are over. Keep only enough Tupperware for one week’s worth of lunches. If there’s a certain type of Tupperware you prefer, limit your collection to only those and recycle the rest. Tip: Using only one type of Tupperware will make it easier to keep it organized.

Information provided by BrightNest.com.

Search all Harrisburg PA homes for sale.

When you are buying or selling property in today's Harrisburg PA real estate market, it's important to have confidence in your real estate professional. Don’s commitment as your Harrisburg PA REALTOR® is to provide you with the specialized real estate service you deserve.

When you are an informed buyer or seller, you'll make the best decisions for the most important purchase or sale in your lifetime. That's why Don’s goal is to keep you informed on trends in Harrisburg PA real estate. With property values continuing to rise, real estate is a sound investment for now and for the future.

As a local area expert with knowledge of Harrisburg PA area communities, Don’s objective is to work diligently to assist you in meeting your real estate goals.

If you are considering buying or selling a home or would just like to have additional information about real estate in your area, please don't hesitate to call me at (717) 657-8700, complete my online form, or e-mail me at don@donroth.com.

Last Friday, the employment numbers for July were released. They weren't spectacular, but they were solid. Payrolls increased by 215,000 for the month, which kept the unemployment rate steady at 5.3%. Wage rates showed some life, up 0.2%. The increase lifts the average hourly wage to just below $25.

Since the job market began to recover in earnest in late 2013, we've been saying that as long as new payrolls come in at 200,000-or-better each month, the housing market would remain in good shape. That's been the case. Since early 2014, new monthly payrolls have regularly posted greater than 200,000.  Not surprisingly, home sales and new-home construction have improved with sustained job growth. Home priceshave also kept pace, which has been something of a surprise. We thought by this time, the rate of price appreciation would have slowed significantly.

As you might expect, we remain bullish on housing. Thanks to continued low mortgage rates and solid monthly job growth, more home buyers will enter the market. As things stand, we see no reason not to expect strong home sales and rising origination activity into at least early 2016.

Information provided by Jessica Regan.

Search all Harrisburg PA homes for sale.

When you are buying or selling property in today's Harrisburg PA real estate market, it's important to have confidence in your real estate professional. Don’s commitment as your Harrisburg PA REALTOR® is to provide you with the specialized real estate service you deserve.

When you are an informed buyer or seller, you'll make the best decisions for the most important purchase or sale in your lifetime. That's why Don’s goal is to keep you informed on trends in Harrisburg PA real estate. With property values continuing to rise, real estate is a sound investment for now and for the future.

As a local area expert with knowledge of Harrisburg PA area communities, Don’s objective is to work diligently to assist you in meeting your real estate goals.

If you are considering buying or selling a home or would just like to have additional information about real estate in your area, please don't hesitate to call me at (717) 657-8700, complete my online form, or e-mail me at don@donroth.com.

China Does It Again; Mortgage Rates Drift Lower

For a newsletter focused on the U.S mortgage and housing markets, we spend a good deal of time discussing foreign events. China, in particular, has been a hot topic. In July, China's major stock markets tanked, which sent investors scurrying for cover. Many sought refuge in U.S. government securities. The 10-year U.S. Treasury note was one of the haven ports.

Over the past couple days, the yield on the 10-year note has again plunged. China is again the reason. 

The People's Bank of China twice devalued its currency, the yuan, in as many days.  This has sent the dollar rising against the yuan, and many other currencies. China devalued its currency in an attempt to stimulate its sluggish economy. China is a huge export nation. When its currency is devalued, exports are cheaper to the country the exports are headed.  Chinese-manufactured goods become cheaper to U.S. and European consumers. 

For us, lower mortgage rates are a by-product of a depreciated yuan. We've seen rates trend lower on the 15-year and 30-year loans over the past couple days. We are now seeing the 30-year loan quoted in the high threes. Up until a couple weeks, it was regularly quoted in the low fours. 

This is the way the world works today: Financial markets are intertwined. Global events impact local markets, and do so more than many people realize. A couple months ago, Greece held center stage; now it is China, and China is much more important than Greece, economically speaking. China is the world's second-largest economy, trailing only the United States. What happens in China impacts everyone, everywhere. Only the United States is more impacting.   

China's currency devaluation impacts us directly because it crimps the Federal Reserve's plans to hike the federal funds rates (which is what people refer to when they talk about the Fed raising rates).  A rate hike would further strengthen the U.S. dollar, thus hurting many U.S. exporters. Therefore, it’s no surprise that markets have trimmed the odds of a September rate hike to zero.  A week ago, it was 50%; two weeks ago, it was 33%.  Now people are gunning for December for the first rate increase.

In short, mortgage rates have been given a reprieve. Whether refinance or purchase, now is the time to act. Sub-4% on the 30-year loan looks like a gift. We say that because the long-term impetus is still for rates to rise, so no one knows how long today's rates will last.  Always keep in mind that sentiment can change in a heartbeat, and it frequently does. 

Information provided by Jessica Regan.

Search all Harrisburg PA homes for sale.

When you are buying or selling property in today's Harrisburg PA real estate market, it's important to have confidence in your real estate professional. Don’s commitment as your Harrisburg PA REALTOR® is to provide you with the specialized real estate service you deserve.

When you are an informed buyer or seller, you'll make the best decisions for the most important purchase or sale in your lifetime. That's why Don’s goal is to keep you informed on trends in Harrisburg PA real estate. With property values continuing to rise, real estate is a sound investment for now and for the future.

As a local area expert with knowledge of Harrisburg PA area communities, Don’s objective is to work diligently to assist you in meeting your real estate goals.

If you are considering buying or selling a home or would just like to have additional information about real estate in your area, please don't hesitate to call me at (717) 657-8700, complete my online form, or e-mail me at don@donroth.com.

You’re going to spend about 200,000 hours of your life in your bedroom. Just to put that in perspective, get this: if you spent all that time walking instead, you’d circumnavigate the earth 25 times.

But, since you’re not Forrest Gump, and will be snoozing all that time, you might as well have an awesome bedroom! Here are seven things you need:

1. Artwork, Placed at 57” from the Floor

A bedroom without artwork on the walls is like a blank canvas of boring. If your bedroom is lacking, it’s time to change that. Almost any type of artwork will do, except for family photographs – this is actually a feng shui no-no! When it comes to bedroom decor, family photographs are considered too “emotionally charged,” and can disrupt intimacy.

Tip: Hang each piece of artwork at 57" on center, meaning the center of the artwork is exactly 57” from the floor. For more tips, read about how to properly hang and frame your artwork.

2. A Comfortable Rug

Sinking your toes into a cushy rug can make any morning awesome. Basically, if you don’t have a rug in your bedroom, you’re missing out. If you already have carpet, but it’s not as luxurious as you might have hoped, add a smaller, plush rug by the bed.

3. A Place to Sit (That’s Not the Bed)

Extra seating is good to have in your bedroom for a few reasons: it can be a place to read (that’s not the bed), a place to put on shoes, check your email in the morning or even just have a conversation with your partner that you’d rather not have in bed.

If you’re tight on space, consider getting a storage ottoman (that doubles as a seat) or a small, upholstered bench at the foot of the bed.

4. Quality Bedding

During sleep, your body is working to support healthy brain function and maintain your physical health. Basically, a good night’s sleep is really important, and nothing helps you sleep better than luxurious linens with a high thread count. If you’re overdue for an upgrade, but not sure where to start, read this guide on navigating the different bedding types in most home goods stores.

5. The Right Scent

Whether you prefer candles, reed diffusers or all-natural air fresheners, a fresh-smelling bedroom can go a long way when it comes to enjoying this space. We recommend tryinglavender linen spray for a mellow, floral fragrance. Bonus: Lavender can actually improve your sleep. (Yes, really!)

6. A Full-Length Mirror

Not only will a full-length mirror let you double-check your outfit every day, adding a large mirror to the space will help make your bedroom feel more spacious.

7. Wall Hooks or Shelves

There is nothing more valuable in your bedroom than vertical wall space (especially if your room is lacking in square footage). Add wall hooks or shelving to hold scarves, jackets, books, plants and whatever else you want to display in your bedroom.

Information provided by BrightNest.com.

Search all Harrisburg PA homes for sale.

When you are buying or selling property in today's Harrisburg PA real estate market, it's important to have confidence in your real estate professional. Don’s commitment as your Harrisburg PA REALTOR® is to provide you with the specialized real estate service you deserve.

When you are an informed buyer or seller, you'll make the best decisions for the most important purchase or sale in your lifetime. That's why Don’s goal is to keep you informed on trends in Harrisburg PA real estate. With property values continuing to rise, real estate is a sound investment for now and for the future.

As a local area expert with knowledge of Harrisburg PA area communities, Don’s objective is to work diligently to assist you in meeting your real estate goals.

If you are considering buying or selling a home or would just like to have additional information about real estate in your area, please don't hesitate to call me at (717) 657-8700, complete my online form, or e-mail me at don@donroth.com.

Goldman Sachs released an interesting investment note to its clients this week. The note was titled “What's Keeping the Kids at Their Parent's Home?” Goldman concludes the job situation is a key factor, with a few other factors tossed in: high student-debt loads, poor credit scores, and rising rent-to-income ratios. It all sounds negative, but it's not.

There are a high proportion of 18-to-34 year-olds living with their parents. The number hit an all-time high after the recession, and the number just began to drift lower last year. This younger demography represents a huge pool of new household formations. (After all, you have to leave eventually, if just to maintain sanity.)  Fortunately, and contrary to some opinion makers, this young demography still wants to own a home, and it wants to own a single-family home, according to Fannie Mae data.  This is good news for the long-term outlook on housing.  There's a lot of pent-up demand in the single-family-home market that will need to be satisfied.

For the time being, though, prices are keeping many first-time buyers on the sidelines. Demand is particularly strong for starter homes, which have been on a tear. CoreLogic reports low-end homes are now priced 5.5% above pre-bubble levels.  Many first-timers have been priced out of the market. 

For the past year, we've been cheerleading for slower home-price appreciation. Entry-level affordability is the reason why.

Information provided by Jessica Regan.

Search all Harrisburg PA homes for sale.

When you are buying or selling property in today's Harrisburg PA real estate market, it's important to have confidence in your real estate professional. Don’s commitment as your Harrisburg PA REALTOR® is to provide you with the specialized real estate service you deserve.

When you are an informed buyer or seller, you'll make the best decisions for the most important purchase or sale in your lifetime. That's why Don’s goal is to keep you informed on trends in Harrisburg PA real estate. With property values continuing to rise, real estate is a sound investment for now and for the future.

As a local area expert with knowledge of Harrisburg PA area communities, Don’s objective is to work diligently to assist you in meeting your real estate goals.

If you are considering buying or selling a home or would just like to have additional information about real estate in your area, please don't hesitate to call me at (717) 657-8700, complete my online form, or e-mail me at don@donroth.com.

Will They or Won't They? (We Again Ask)

We're tired of writing about the Federal Reserve. We suspect that you're tired of reading about the Fed. But the Fed matters – to both the housing and mortgage markets – so we have no choice but to press on. 

Recent events had pointed to the Fed standing back from raising the federal funds rate in September. Specifically, economic growth remains anemic.  Gross domestic product (GDP) for the second quarter came in weaker than expected, at 2.3%. Most economists were expecting growth to post closer to 3%. 

Weakness was particularly pronounced in nonresidential fixed investment, which fell 0.6%. Commentators frequently focus on consumer spending when commenting on economic growth. To be sure, spending is important, but so is investment, because investment lays the foundation for future consumption: You have to produce in order to consume in the long run.  Production, which investment funds, paves the way for consumption.

When the disappointing GDP figures were released last Thursday, the yield on the 10-year U.S. Treasury note drifter lower by 15 basis points. In turn, rates on most mortgages, particularly the 15- and 30-year loans, drifter lower. Depending on the market, sub-4% on the 30-year loan could be had. 

But over the past day or so, yields and rates have drifted higher. One of the Federal Reserve's presidents, Dennis Lockhart, opined publicly this week that the economy could handle an increase in the fed funds rate in September. (The fed funds rate is the rate banks lend to each other overnight. It's a short-term rate, but it tends to filter through to the long end of the curve.) 

So what do private-market participants think will happen?

As for private-market traders, those who bet on interest-rate movements, the futures market has priced in a 50% chance the Fed will raise the fed funds rate next month. Last week, futures were priced at a 33% chance. So who knows what next week will bring. 

We remain skeptical that anything happens in September: Economic growth is still weak, while the U.S. dollar is still strong. Against most currencies, the dollar has appreciated significantly. A rate increase will only further strengthen the dollar against other currencies. For many multinational corporations, this is an issue. A stronger dollar makes exports more expensive and can result in significant currency-exchange losses when money is repatriated from overseas. We could see some additional push-back against a rate increase. 

With that said, we wouldn't be surprised if a rate hike occurs. The Fed may have to move to raise rates simply to maintain credibility. (You can drag people along only so far before they revolt.)  The impetus, then, is for rates to rise. (Keep in mind, they can rise without or without the Fed's blessing.)  Therefore, we're likely looking at the floor on mortgage rates. The mortgage rates we see today could be the best rates we see for quite a while.

Information provided by Jessica Regan.

Search all Harrisburg PA homes for sale.

When you are buying or selling property in today's Harrisburg PA real estate market, it's important to have confidence in your real estate professional. Don’s commitment as your Harrisburg PA REALTOR® is to provide you with the specialized real estate service you deserve.

When you are an informed buyer or seller, you'll make the best decisions for the most important purchase or sale in your lifetime. That's why Don’s goal is to keep you informed on trends in Harrisburg PA real estate. With property values continuing to rise, real estate is a sound investment for now and for the future.

As a local area expert with knowledge of Harrisburg PA area communities, Don’s objective is to work diligently to assist you in meeting your real estate goals.

If you are considering buying or selling a home or would just like to have additional information about real estate in your area, please don't hesitate to call me at (717) 657-8700, complete my online form, or e-mail me at don@donroth.com.

Chinese stocks experienced a hard sell last week. A couple of that country's major market indices dropped over 10% over a couple of trading days. The sell-off in Chinese stocks lead to a buy-in of traditionally haven investments, like the 10-year U.S. Treasury note, which saw its yield drop by nearly 15 basis points. Of course, as the 10-year note goes, so go mortgage rates, which have eased over the past two weeks.

If China's stock market remains weak, odds favor the Federal Reserve sustaining from raising the federal funds rates in September. The next meeting of the Fed's Federal Open Market Committee (FOMC) occurs September 17, and many market participants anticipate the first rate increase since 2006. We are somewhat less anticipatory.

We still think a rate increase is in the more distant future. China is one reason; our own economic growth is another. Gross domestic product (GDP) was negative in the first quarter. What's more, growth for the second quarter is expected to be positive, but weak. In addition, the U.S. dollar remains strong against most major currencies. An interest-rate increase will further raise the perception of a strong dollar, thus pressuring it to appreciate even more.

With that said, we could be wrong on the Fed come September, but even if we are, that doesn't mean long-term lending rates will rise. On the other hand, they could rise even if the Fed continues to hold the fed funds rate at current levels. China, not the Fed, could be the key factor in interest rates over the next couple months.

Information provided by Jessica Regan.

Search all Harrisburg PA homes for sale.

When you are buying or selling property in today's Harrisburg PA real estate market, it's important to have confidence in your real estate professional. Don’s commitment as your Harrisburg PA REALTOR® is to provide you with the specialized real estate service you deserve.

When you are an informed buyer or seller, you'll make the best decisions for the most important purchase or sale in your lifetime. That's why Don’s goal is to keep you informed on trends in Harrisburg PA real estate. With property values continuing to rise, real estate is a sound investment for now and for the future.

As a local area expert with knowledge of Harrisburg PA area communities, Don’s objective is to work diligently to assist you in meeting your real estate goals.

If you are considering buying or selling a home or would just like to have additional information about real estate in your area, please don't hesitate to call me at (717) 657-8700, complete my online form, or e-mail me at don@donroth.com.

Is Short-Term Volatility a Long-Term Worry?

Things have gotten a bit bouncy of late. The velocity of up-and-down movements in housing data has certainly increased in recent weeks.

Home prices are an example. Last month, the S&P/Case-Shiller Home Price Index showed prices were mostly up in the 20 metropolitan districts it follows. This month, prices are somewhat more scattered.

Case-Shiller reports surprising price weakness in many markets. Specifically, home prices declined in 12 of the districts it follows. When the numbers are tallied, the index shows a 0.2% decline for May. This is on top of a downward revision in April's numbers. Year over year, the rate of price appreciation has eased to 4.9%.

Activity pertaining to new home sales could be a contributing factor in Case-Shiller's numbers. New home sales can be volatile, and sales were certainly volatile in June. Sales plunged a surprisingly steep 6.8%, posting at 482,000 units on an annualized basis. What's more, revisions erased 40,000 new home sales from the prior two months.

The good news is that the price of new homes are holding steady, with the median price posting at $281,800, a 0.5% monthly increase. Price appreciation will likely remain anemic, though. There are an estimated 215,000 new homes on the market. At the June sales pace, the current supply rises to 5.4 months compared to 4.8 months in June. More supply coupled with slowing sales points to slowing price appreciation at the national level.

Of course, what happens at the national level frequently has no bearing at the local level. Markets are segmented by location and by property type. Price appreciation in many markets has stagnated at the higher echelons. Lower down, price appreciation remains brisk. That's an issue for new potential home owners (younger people). Homeownership rates remain stubbornly low. In fact, the homeownership rate for the second quarter of 2015 fell to 63.4%, the lowest rate since 1967. Much of the decline can be traced to a dearth of first-time owners.

The obvious question is, are higher mortgage rates dragging the market down?

Existing home sales for June were surprising strong, but a change in mortgage rates lags in the existing-home-sales data. New home sales are reported when the contract is signed; existing home sale are reported when the transaction closes. If higher mortgage rates are an issue, we should expect to see a slowdown in existing home sales for July and August.

We suspect that higher mortgage rates aren't the issue. The Mortgage Bankers Association reported that purchase applications were up again last week. Year over year, purchase activity is up 18%. If we focus on just new-home purchase activity, we find that activity is trending hire.

In short, we view recent volatility in home sales and prices as being similar to a case of indigestion. No need to worry, because this, too, shall pass.

Information provided by Jessica Regan.

Search all Harrisburg PA homes for sale.

When you are buying or selling property in today's Harrisburg PA real estate market, it's important to have confidence in your real estate professional. Don’s commitment as your Harrisburg PA REALTOR® is to provide you with the specialized real estate service you deserve.

When you are an informed buyer or seller, you'll make the best decisions for the most important purchase or sale in your lifetime. That's why Don’s goal is to keep you informed on trends in Harrisburg PA real estate. With property values continuing to rise, real estate is a sound investment for now and for the future.

As a local area expert with knowledge of Harrisburg PA area communities, Don’s objective is to work diligently to assist you in meeting your real estate goals.

If you are considering buying or selling a home or would just like to have additional information about real estate in your area, please don't hesitate to call me at (717) 657-8700, complete my online form, or e-mail me at don@donroth.com.