Sales of US Homes Hit Year High ? Save Money on Your Home Purchase

According to the latest data, sales of existing US homes climbed in September, achieving their highest level in a year, after jumping by 2.4% on the month. Sales had been expected to increase by 1.0% on the month following August’s -1.8% decline. The report adds to the improving picture of the UK’s housing sector. According to industry expert Guy LeBas; ‘We’re on a pretty stable trajectory [with borrowing costs being] pretty contained. The rate of payroll growth is a modest positive for the housing market.’

Similarly, an economist from the National Association of Realtors commented; ‘Low interest rates and price gains holding steady led to September’s healthy increase, even with investor activity remaining on par with last month’s marked decline. Traditional buyers are entering a less competitive market with fewer investors searching for available homes, but may also face a slight decline in choices due to the fact that inventory generally falls heading into the winter’
After the data was published the Pound to US Dollar exchange rate fell and the Euro to US Dollar exchange rate consolidated an earlier decline. On the year, the number of existing homes for sale was up 6% with purchases rising in three quarters of assessed regions.

If you’re planning on buying a property in the US, or anywhere else in the world for that matter, you could save a considerable amount of money by looking into your foreign currency exchange options well in advance.
The process of buying a property can take months to finalise, particularly when you’re investing in overseas real estate and have to overcome all the red tape that can entail. In the time which passes between making an offer on a property and exchanging contracts, the exchange rate may have shifted significantly and the house of your dreams could end up costing you considerably more than you bargained for. By getting in touch with a reputable foreign currency and talking through your requirements, you could arrange to fix a favourable exchange rate for up to two years in advance of a trade. This means you’ll know exactly how much your property will cost you from the start (helping you to budget effectively) and you won’t be at risk from adverse fluctuations in the exchange rate.

When choosing which broker to use, it pays to do a little research. Make sure you go with a reputable broker with positive online reviews and a commitment to customer care.