Interest in Homebuying Grew in January

Below is an excerpt from an article in Inside Mortgage Finance, about interest in homebuying in January.

Individuals contemplating purchasing a new home increased in January, according to Jornaya, a behavioral analytics firm.

The company found that home searches were up 11.0% in January, compared to a 5.4% rise in December.

“Nationwide homebuying activity followed a similar incremental growth pattern. With
inventory low and competitive interest rates, housing prices are increasing. As we expected, the January housing market came in strong and we anticipate our homebuying activity to
continually rise,” said Mike Eshelman, head of consumer finance at Jornaya.
Also, the time for home and mortgage shopping has noticeably shrunk, with consumers
deciding within 100 days.

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