Still above 7% Average 30-yr mortgage rates stayed above 7% for the third-straight week, and higher rates are already dampening transaction activity. After jumping 9.4% month-over-month in Dec 2023, pending sales (signed contracts) backtracked 4.9% MoM in January 2024. [National Association of Realtors] This … [Read more...] about What’s Up with Real Estate This Week? March 1st, 2024

Hope is building for a more active spring/summer in terms of transaction volumes. Both real estate agents and new home builders are significantly more optimistic than they were at the same time last year, and existing home sales are recovering.   Transactions recovering January existing home sales rose 3% … [Read more...] about What’s Up With Real Estate This Week? February 24th, 2024

Economist Warns Against Attempting to Time the Housing Market Mortgage rates experienced a slight uptick this week, causing some potential homebuyers to hesitate. However, there are compelling reasons why waiting might not be the best strategy. Homebuyers are particularly attuned to mortgage rate fluctuations, as evidenced … [Read more...] about Why Buyers SHOULDN’T Wait For Rates to Drop