April 11, 2024

Inflation still lingers!

Inflation remains within the economy despite the ongoing increase in interest rates! Home prices will continue to appreciate as long as there is limited supply.

 

 

March 22, 2024

Mortgage Demand

Weekly mortgage demand increased again as interest rates fall below 7%. The average contract interest rate for 30-year fixed-rate mortgages decreased to 6.84% from 7.02%.

Applications for a mortgage to purchase a home rose 5% for the week but were still 11% lower compared with the year before.

 

Posted in Market Updates
March 22, 2024

Market News:

February home sales spike 9.5%, the largest monthly gain in a year!

Feb. 7, 2024

Fed. Rate to remain unchanged.

Mortgage rates jump back over 7% as stronger economic data rolls in

With a stronger than anticipated job report, the Federal Reserve decided to leave interest rates unchanged. The public and market were forecasting a drop in interest rates!

What will this do to the spring real estate market? we will see.

Posted in Market Updates
Jan. 25, 2024

2024 Top 10 Housing Markets

2024 Top 10 Housing markets:

  1. Buffalo, NY
  2. Cincinnati, OH
  3. Columbus, OH
  4. Indianapolis, IN
  5. Providence, RI
  6. Atlanta, GA
  7. Charlotte, NC
  8. Cleveland, OH
  9. Orlando, FL
  10. Tampa, FL

The list is based on an analysis of home value appreciation, how long it takes to sell a home and job growth relative to housing supply. 

Posted in Market Updates
Jan. 22, 2024

2023 Year End

*December home sales close out the worst sales year since 1995.

Dec. 18, 2023

Interest Rates

Mortgage rates dropped last week, as incoming data point to a slowing economy and support a pivot by the Federal Reserve to begin cutting rates next year.

As a result, applications to refinance a home loan increased 19% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Refinance demand was 27% higher than the same week one year ago.

Nov. 3, 2023

Home Sales Drop 30%......

The number of September residential home sales in New Hampshire dropped by 30 percent compared to a year prior, and affordability remained at a low point as the median price of those sales hit an all-time September high at $490,000.

Oct. 12, 2023

Headwinds

Housing Industry urges Fed Chair Powell to stop raising interest rates or risk an economic hard landing. Lead by the National Association of Home Builders, Mortgage Bankers Association and the National Association of Realtors- profound concern continues to linger in the housing industry.

 

 

Oct. 3, 2023

October News

Mortgage demand shrinks as interest rates hit the highest levels in 23 years! The housing market is really at a standstill and will remain at that standstill until we see a drop in interest rates.

Posted in Market Updates