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Market Updates

Home prices continue to rise for the third month in a row

In today's real estate market, there is a fierce tug of war between high demand and low inventory, creating a challenging situation for homebuyers. The rebound in home prices has been evident, with three consecutive months of price increases. Some Continue Reading

Sluggish Summer and Spring Home Sales: Factors Impacting the Market

Summer and spring home sales are experiencing a sluggish phase, primarily influenced by a combination of high prices, elevated mortgage rates, and lower inventory. This has significantly impacted the strength of the spring selling season, resulting Continue Reading

New home construction continue to be a bright spot

New home sales are experiencing significant growth as the housing inventory continues to face a severe shortage. With approximately 80% of current US mortgages being at or below 5%, homeowners are reluctant to sell or list their properties. This Continue Reading

Mortgage Demand faces challenges

The mortgage industry is currently facing challenges as the demand for mortgages is dropping, despite recent declines in interest rates. According to recent data, the average contract interest rate for 30-year fixed-rate mortgages with conforming Continue Reading

Fluctuating Interest Rates Between 6.5% and 7% are the new normal

Mortgage rates have been experiencing significant fluctuations in recent times, hovering above and around the range of 6.5% to over 7%. This instability in interest rates has a direct impact on the monthly payments for homebuyers seeking a $400k Continue Reading

US housing prices nationally begin to rise from the bottom

After a year of declining prices, the real estate market is finally showing signs of life with prices beginning to rise again. However, the recovery is not uniform across all regions, with the West experiencing the most significant impact from the Continue Reading

Not all markets are equal in the US Housing Market

Home prices in the west have experienced a significant drop of about 10% since reaching their peak in April 2022. However, despite this decline, prices in the region remain higher compared to 2019 levels. The west has been particularly affected due Continue Reading

New Home Sales rise 4.1% in April

New Home Sales rise 4.1% in April

In April, there was a notable surge in new home sales, as they experienced a remarkable increase of 4.1%. This rise in sales contracts can be attributed to the limited availability of existing homes in the market. The lack of inventory has resulted Continue Reading

The return of bidding wars and multiple offers

The return of bidding wars and multiple offers

The return of multiple offers on homes has become a prominent trend in the real estate market, especially during the spring selling season. With the lack of housing inventory, homebuyers are facing intense battles to secure their dream homes. Despite Continue Reading

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