Weekly National and Local Real Estate News Round-Up
The Latest & Real Estatest In this week's Talking Points: A deep dive on housing inventory at the national and city level, inflation and the Fed, and more!
National Real Estate News
You want to move it move it?
Have you outgrown your home? Or perhaps you'd just like to live in a new environment? There are a million motivations for moving - and they're all about the lifestyle you desire for yourself and your family. Let's meet up to talk about your housing goals and financing options, so that when you're ready to make your move, a plan is in place.
Rates refuse to stay down
Last week, average 30-yr mortgage rates dropped from near 7.5% to almost 7.0%. This week, they've reversed course and are approaching 7.4%. Why? 1) Some stronger economic data, and 2) A few comments from Fed members suggested that interest rates could stay higher for longer. Meanwhile, home prices keep rising: Black Knight said national home prices climbed 1.5% month-over-month in July. Rates refuse to stay down New listings rise
New listings rise
In a normal year, the number of new listings peaks in May/June and then declines sharply until bottoming in December. This August, however, new listings actually ROSE 3.5% month-over-month, allowing total active listings to grow to 670,000 units nationwide. That's still 46% below August 2019 (pre-pandemic) levels, but in this inventory-starved market you've got to celebrate small victories.
Questions about our local real estate market?
Contact us today to learn more about homes for sale or selling a home on the Treasure Coast. Whether buying or selling a home on the Treasure Coast, we are always happy to meet with you to discuss your wants and needs with no obligation. Eric Slifkin, Broker Associate, Keller Williams Realty. Info: 772-678-1600.