Real Estate Information Archive

Photo Credit: West Elm 

Ancients Romans may not have had modern toilets or steam showers, but they had a leg up in the bathroom department: heated floors! Yup, thousands of years ago six a.m. cold feet weren’t a problem thanks to hot water pumped through pipes under floors. Genius, right?

Just like the ancient Romans, you deserve some luxury in your life. If you’re ready to take your bathroom game to the next level, invest in one of these baller bathroom upgrades. You deserve it.

1. Install a Vessel or Glass Bathroom Sink

Sure, you’ll kill germs at any old sink, but how basic is that? Vessel sinks are stylish, easy to install and modern. Plus, they’re not just a pretty addition – they’re higher than traditional sinks, which makes them more ergonomic and comfortable to wash your hands in. Win!

What will this cost me? You can find good glass of vessel sinks for less than $150. Installation costs, on average, between $140 and $200.

2. Upgrade to Heated Floors

Waking up is hard to do, but waking up when it’s 5 degrees outside is downright impossible. When frigid temperatures make waking up and stepping into the shower a miserable task, picture this: Hot floors warming your feet and toasting your bathroom. It’s not a pipedream! Heated floors may have been around since the Romans, but they’re just now making a comeback in modern bathrooms.

What will this cost me? If you’re ready to heat it up, there are two options to choose from: hydronic or electric floors. Electric floors are far more economical and can heat an average size bathroom for about 10 cents a day once it’s installed. Initial installation will cost about $500-$700 depending on the size of your bathroom. See ya, slippers!

3. Re-Tile Your Shower

They say if you want to know someone’s age, look at their hands. In the bathroom, the aging tell is shower tiles. Shower tiles have a tough job - every time you shower, you’re adding a layer of scum to the tiles that, over time, shows wear. And do we even need to mention the dirty grout? To give your bathroom an upgrade that will pack a big punch, retile your shower.

What will this cost me? The cost of your shower re-tile completely depends on the size of your shower. An average shower of about 100 square feet will cost roughly $1,000. For a more exact estimate, visit Homewyse.

4. Add Window Treatments

Window treatments are a low-maintenance, quick way to upgrade the look of your bathroom. You literally buy and hang. No installation, no mess and less money spent than on your average date night. When you’re choosing treatments, pay attention to how they handle moisture. In the bathroom, you want them to be resistant to moisture and fast-drying to prevent mold growth. Tip: If you don’t have a bath fan, or can’t open a window to ventilate your bathroom, skip the window treatment – mold’s too great a risk.

What will this cost me? Installing new window treatments will take about an hour of your time. For price, we recommend shooting for a middle-of-the-road option. Anything too cheap, and you’ll be replacing them in less than a year. We like this treatment from Bed Bath and Beyond because of its classic shape, six color options and $39.99 price point.

5. Massive Windows

If you live downtown in an urban environment, this upgrade probably isn’t for you. But if you have some privacy and relish in the idea of a relaxing bath and a view, this may be the upgrade for you. When we say massive, we mean massive. (Like this and this.) Big windows make a huge statement, add natural light and will make your bathroom feel more livable.

What will this cost me? This install isn’t for the faint of heart or the shallow of wallet. Your average window replacement costs anywhere from $14,000 to $30,000. Why the range? It depends on what you’re working with currently, what type of window you want and what other upgrades you’re doing. We’re not saying it’s cheap, but it can still be worth it!

6. Hang a Chandelier

Chandeliers shouldn’t be relegated to the dining room or front parlor. Nope, chandeliers look awesome in bathrooms, too! While they have a fancy shmancy name, chandeliers are really just really ridiculously good looking light fixtures. You use your bathroom every day, so why not look at something you enjoy?

What will this cost me? If you have a handy-woman or man in the house, you’ll just be forking over cash for the cost of the chandelier. Scour antique markets for a deal on an elegant old piece, or pick up this elegant new piece from Land of Nod for $139. Not your style? This beaded, boho chandelier from World Market may be for you. Get the wordly look for $269.99.

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.

Employment is a key variable in the Federal Reserve's interest-rate equation. The lower the unemployment rate, the greater the chance the Fed will target higher interest rates. But there are a few mitigating variables, and a few are unique in the annals of recent history.

For one, we have low consumer price inflation. Oil and gas prices are as low as they've been in the past five years. This helps keep consumer price inflation below the Fed's target rate of 2%.(Inflation has actually been running below the Fed's target rate for a few years now.)

In addition, central banks around the world have embarked on their own version of quantitative easing. Last year, Japan's central bank announced it would swell its monetary base by $712 million. This year, the European Central Bank announced it would swell the European Union's monetary base by $1 trillion. Both Japan's central bank and the ECB are buying bonds (much like the Fed did) to accomplish their mission.

More yen and more euros has caused the U.S. dollar to appreciate relative to both currencies (and many of the world's currencies). If the Fed would raise interest rates, the dollar would become even more attractive compared to most currencies because dollar-denominated debt will offer a higher yield. (Demand for dollars would rise to buy this debt.)

Finally, the job market might not be as strong as the unemployment rate leads us to believe. In the past, the labor participation rate was consistently above 63%. The participation rate remains below that level today. It's possible an excess of potential labor remains on the sidelines, which makes the official unemployment rate appear better than it is.

Interest rates are tough to predict, but we wouldn't be surprised to see June come and go with no interest rate increase from the Fed.

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?

Another month and another strong jobs report.  

Payrolls increased by an impressive 295,000 in February. This follows a healthy 239,000 gain in January and an eye-popping 329,000 surge in December. Continued strong job growth has dropped the official unemployment rate down to 5.5%.  

Way back in early 2014, we opined that 200,000-or-more new jobs per month would be a sign the economy was in full-growth mode. That's been the case. If we go back to January 2014, we see that there has been only one month of sub-200,000 monthly job growth. Business activity has certainly picked up over the past 15 months. (This is key. It's not so much job growth that matters, but business activity that creates value that requires workers to produce.)

With the latest employment report, more economists are talking interest rate hikes. History has shown that when job growth is strong and the unemployment rate is below 6%, odds rise that interest rates will rise. Everyone now is looking to June for the first Federal Reserve federal funds rate hike in eight years. Since December 2008, the Fed's target fed funds rate has been held at zero.

The fed funds rate is a short-term rate. It's the rate banks lend to each other overnight. It does influence longer-term rates, though. In short, the fed funds rate can be viewed as the base rate that determines the level of all other interest rates.

All eyes will be on the Fed FOMC meeting announcement this coming Wednesday. Specifically, market watchers will focus on one word – “patient.” The Fed has leaned on this word over the past six months to divert attention from a fed funds rate increase. Many pundits and commentators believe if “patient” is no longer in the press release, the Fed will raise the fed funds rate in June.

So does this mean mortgage rates are on the rise?

Mortgage rates have been rising since early February. They actually spiked higher on the February jobs report, but they've since drifted lower, and are actually slightly lower than they were this time last week. This isn't all that unusual. There's an old saying in financial circles: “Buy the rumor, sell the news.” This suggests many people were expecting a strong February jobs report, and when they got it, rates moved lower.

Despite another strong jobs report and unemployment at 5.5%, we still don't believe the Fed raising rates in June is a sure thing. There is a chance rates could remain low for longer than many people think.

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.

We can probably all agree that spring cleaning is important, but finding the time for a prolonged scrubbing session isn’t always easy. So why not try a few shortcuts? You’ll still wind up with a clean house, but you won’t have to rearrange your busy schedule to make it happen!

1. Put Clutter in Bins

If your home is full of clutter, it could take forever to put everything back in its proper place. Instead, invest in a few large baskets or bins. Put your clutter into piles – like books, papers and clothes – and then move the piles into the bins. Eventually you’ll have the time to organize the bins, but until then your floors and furniture will be clear!

2. Clean Toilets with Denture Tablets 

If you’re more concerned about bacteria than stains, denture tablets are by far the easiest and best way to clean your toilet. Drop a couple of denture cleaning tablets into your toilet bowl, let them sit for about a minute and then flush. That’s it!

3. Pick up Small Objects with Pantyhose 

Are there tiny plastic Batman and Robin figures crammed under your couch? If you’re not interested in moving heavy furniture or getting on your hands-and-knees, use this trick: Fasten some old pantyhose over the extension on your vacuum with a rubber band, and then sweep it beneath your furniture. The suction will pick up fallen objects and trap them on the pantyhose, making them a cinch to clean up!

4. Mega Shortcut: Outsource Everything

If these tricks aren't diminishing the spring cleaning effort as much as you'd like, you can always hire someone to do the work for you! Take a peek at these housecleaning offers in your area. Remember, if you take this road, you can finish binge-watching House of Cards this weekend instead of futzing around with denture tablets and pantyhose.

5. Clean Your Curtains Without Moving Them

You could take all of your curtains down, clean them in the washing machine, hang them out to dry and then hang them back up – or you can use a rented steam cleaner to do the job in ten minutes! Make sure your steam cleaner is full of water, and then clean from the bottom to the top. Unless your curtains are extra-thick, you’ll only have to steam the front side to get them clean.

6. Only Wash the Outside of Windows

If your glass is looking dirty, 90 percent of the problem is probably located on the outside of the window. So cut your cleaning time in half by only worrying about the outside of your window panes! Choose an overcast day to clean (sunlight can leave streaks) and wash your windows from the outside corners in, using circular strokes. If you decide to tackle your second-story windows, use proper ladder safety rules. Tip: Use coffee filters for the ultimate streak-free shine.

7. Clean Your Dishwasher with Vinegar

Spring cleaning means getting every nook and cranny, right? Well, that includes your dishwasher, but it doesn’t have to include a lot of effort. Simply empty your dishwasher and then pour a cup of white distilled vinegar into it. Run the dishwasher on the hottest cycle possible and go about your day. Your dishwasher will be clean!

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.

Markets are interconnected. What occurs in one market will influence what occurs in another.

Consider the stock market. Most of us have some exposure to stocks, either through direct ownership or though a mutual fund or an exchange-traded fund. Anyone with a retirement account very likely has some stock-market exposure.

Stocks are at an all-time high. Therefore, many of us are feeling wealthier these days.

There is an actual phenomenon known as the “wealth effect” that is influenced by a rising stock market. When our portfolio values rise, we feel wealthier. When we feel wealthier, we are more inclined to spend, particularly on large-ticket items like cars and houses. With the stock market at an all-time high, the propensity to consume should rise as well. This bodes well for housing.

Of course, the question is, can the stock market continue to rise? We're not stock-market prognosticators, but there is reason to expect stock prices not to backside. Income is the reason.

Dividend-paying stocks are attractive alternatives to many fixed-income investments. With savings accounts yielding mere basis points and certificates of deposit yielding a percentage point or two, a quality dividend-paying stock with a 3% or 4% yield looks pretty attractive in comparison. Stocks relative attractiveness to other income investments should help keep demand, and, therefore prices, high.

Again, there are no guarantees, but the “wealth effect” is yet another reason why we think housing will keep moving forward.

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.

Inflation Remains Muted, But Rates Are on the Rise

Inflation is an important variable in the interest rate lenders charge borrowers. Over time, inflation erodes purchasing power. A dollar in an inflationary environment won't buy as much tomorrow as it will today. To compensate for lost purchasing power, inflation is factored in to interest rates. An inflation premium ensures lenders are able to maintain purchasing power over time.

Today, consumer price inflation remains muted. Thanks to falling oil prices, the aggregate consumer price index has actually declined. When energy and food are stripped from the equation, consumer prices are rising at less than 2% annually. Inflation by Federal Reserve standards is a non-issue.

Private market participants appear to have a slightly different take, though. They appear to be less sanguine on inflation than the Fed and other government data collectors.

In recent weeks, the yield on the 10-year U.S. Treasury note has risen to over 2.1%. In early February, it was below 1.7%. As the 10-year note goes, so, too, goes the rate on the 30-year fixed-rate mortgage. Bankrate.com's survey shows the national average on the 30-year loan above 3.9%. That's a 15-basis-point increase in the past month.

Though we believe interest rates and bond yields will remain low for the relevant future, there are no guarantees. Inflation is an insidious thing. It can appear out of the blue; mostly when it is least expected. When inflation appears out of the blue, so do spikes in mortgage lending rates.

The good news is that rates are still very reasonable across the board. Better yet, these rates are available to a wider swath of borrowers. Thanks to more-accommodating FHA and Freddie Mac and Fannie Mae guidelines. More people can capture rates unavailable to them even a few months ago.

Low rates are an obvious factor in home affordability . Here, we find homes are still a good deal in many metropolitan markets. This is a point we've been emphasizing over the past few months.

More than anything, though, we've been emphasizing the risk of waiting. In a normalized housing market, which we believe prevails today, prices persistently rise over time. The house that cost $200,000 today will likely cost $205,000 next year, and $210,000 the year after. What's more, the rate to finance that purchase could easily be higher too.

So again, we ask, what's the point in waiting? We simply don't see one in today's market.

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.

Let’s face it: Storage can be irritating in any room. But this small irritation can become a big fat issue when you’re dealing with a small bathroom. Where do you store towels? What about tweezers? And where exactly are you supposed to hide tampons when you don’t have drawers? We’ve found the solutions to these woes and more.

Here are six ways to make the most of a petite bathroom:

1. Add Extra Towel Racks to the Door

No matter how small your bathroom is, we bet it has a door. How many towel racks do you have on the back of that door? If the answer is “zero,” it’s time to hang a rack. If it’s “one,” you’re still selling your door space short. Try lining your door with enough racks to hang the majority of your towels. Then, store the rest in a closet somewhere else in the house. This rack from OXO is a solid option if you need to go shopping.

2. Make a “No Water, No Bathroom” Rule

Who said make-up and hair has to be done in the bathroom? Nobody, that’s who. Adopt the rule that if it doesn’t involve water, it doesn’t happen in the bathroom. Set up stations for make-up, hair and other habits in other spots and then get your makeup, makeup brushes and hair tools out of the bathroom. That will free up some serious space!

3. Use a Lazy Susan

The ‘80s brought us spandex, hammer pants and Lazy Susans. Remember those wheels everybody had on their dining room tables? Those babies are perfect for the under-the-sink area of a cramped bathroom. On your Susan, organize everyday items like Q-tips, cotton balls and toothpaste. Then, spin away. This way, you don’t have to go spelunking in the crowded cabinet every time you need something.

4. Podium Sink? Surround It with Shelves!

Whoever invented the podium sink should be put on trial, because those things are a crime. Where do you store your stuff? On the floor? Fix the problem with these creatively designed shelves from IKEA. (We also dig the name Ragrund.) They’re meant to fit snuggly around that annoying podium, and they’ll add some serious storage square footage to your bathroom.

5. Try Magnet Strips for the Little Things

Next time you’re in the bathroom, pay attention to how many metal do-dads you have laying around. Between bobby pins, nail clippers, razors and scissors, metal things are probably adding to your bathroom clutter. Fix the problem by hanging a knife magnet strip. They’re designed to hold the weight of knives, so they’ll definitely be able to handle your hair accessories.

6. Experiment with New Shelves in Weird Spots

And by weird, we mean above doors, above the shower head and even above the mirror. Why not? All of this space is prime real estate for storage. Plus, you only need those tampons once a month. It won’t be a big deal to use a step ladder to reach them, right?

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.

Over the past year, we have on occasion highlighted the advantages of owning compared to renting. Zillow has given us reason to highlight the advantages once again.

Specifically, Zillow focuses on rising rents and slowing home-price appreciation. Zillow reports that monthly rents have grown at roughly twice the pace of wages since 2000. Americans are spending a greater share of their income on rent these days – roughly 30% versus 25% in the past. Home-price appreciation, on the other hand, continues to slow. At latest count, 5.4% year over year.

Zillow doesn't necessarily think that rising rents will drive homeownership rates – at a 20-year low – higher. We respectfully disagree.

If you are paying 30% or more of your income for rent, and that percentage continues to rise, owning becomes a more attractive alternative when future costs are factored in. After all, the key advantage of owning is that a price is locked in, especially when the purchase is financed with a fixed-rate loan.

We think the advantages of owning compared to renting will become even more apparent as the year progresses. Rent increases show no signs of abating, while home-price increases do. This is yet another reason we continue to cheerlead in favor of homeownership.

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.

I just read an article that said the average monthly rental payment in the Harrisburg area was $846 in 2013. Since this report says they calculate that number every two years, I made the adjustment to $900 per month. So using this number and rounding down to consider a 3.75% 30 fixed mortgage rate you arrive at a monthly principal and interest payment of $879.92. Amazing how close that figure is to the average monthly rental payment, wouldn’t you agree?  Yes, I am aware that the mortgage payment does not include real estate taxes and insurance but I wanted to give you a reference point to consider.   Included below are a few pictures of homes that fall into this affordability price range. 

You probably are asking why I am posting this article now? Well, we have all been saying that interest rates are going to increase by the end of 2015. AND yes we have made that prediction before and nothing has happened and I am not saying this is different than previous times but it is. So if you are paying this amount of money in rent at least consider the alternative, talk to a lender and see what your options are.  Or give me a call and we can look at some homes, just like you take a car for a test drive.  If you don’t like anything at least you know that home ownership is not for you at this time. Give me a call or text me at 717-579-2879 or send me an email at Don@DonRoth.com.  I am happy to assist you ! 

Still No Traction

The wait for an up trend in existing home sales continues.

Despite a year of strong job growth and low mortgage rates, sales of existing homes continue to languish. Indeed, sales fell a steep 4.9% to 4.82 million units on an annualized rate for January. The drop in sales made for a sizable rise in inventory relative to sales, to 4.7 months versus 4.4 months in December.

At the same time, the median price of an existing home dropped 4.1% to $199,600. This is the first reading below $200,000 since March 2014. Oddly, if not disconcertingly, price concessions haven't helped lift sales. Given the uptick in inventory, we would not be surprised to see more discounting in February's report. Generally, that would be a positive for sales, but we will see.

Because it is taking so long for existing home sales to gain traction, we have to wonder if there is a fundamental shift occurring. The NAR reports that homeowners are remaining in their homes 10 years on average these days. This is three years more than the long-term average of seven years. Are homeowners more nervous? Are they more interested in rehabbing than moving? Is job mobility an issue? Perhaps all the above; all we know is that more people are staying put.

Then again, it's also possible a stronger foundation is forming. If total existing home sales are moving sideways due to fewer distressed sales, that's obviously a good thing. This suggests that declining distressed sales are being offset by more conventional equity-driven sales. In other words, the composition of sales is improving.

Though the overall sales market is much smaller, new home sales are at least trending higher. Sales of new homes came in at a better-than-expected 481,000 units on an annualized rate in January. Unlike with existing home sales, discounting appears to have helped new home sales. The median price for a new home dipped 2.6% to $294,000 in January. If we go back to January 2012, we see a healthy long-term trend line that moves up linearly left to right.

Of course, we are always quick to note that all housing markets are local markets. What occurs at the national level might or might not reflect what occurs locally. Mortgage markets, on the other hand, are much more consistent across the country. Mortgage rates in Boston aren't much different than rates in Los Angeles.

Rates across the country have risen in recent weeks. Despite the rise, purchase mortgage activity has come to life. The Mortgage Bankers Association reports that its purchase index ended six weeks of declines with a 5.0% rise in the February 20 week. We are hopeful for further gains, but we've learned from experience not to hold our breath.

One week doesn't make a trend, but if price growth continues to moderate and mortgage rates remain low (which we believe they will), we still think we will see a resurgence in lending and in home sales that we predicted at the beginning of the year.

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.