August 17, 2023 The economy continues to do better than expected and the 10-year Treasury yield has moved up, causing mortgage rates to climb. The last time the 30-year fixed-rate mortgage exceeded seven percent was last November. Demand has been … Continue reading
Prices still flat while sales declines continue with rates sticky around 7%
The median sales price remained flat at $375,000 Signed purchase agreements fell 9.5 percent; new listings down 16.0 percent Sellers accepted offers for an average of 100.8 percent of their list price (August 15, 2023) – According to new data … Continue reading
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending August 5, 2023 According to ATTOM’s Q2 2023 Home Affordability Report, 98% of median-priced U.S. single-family homes and condos were less affordable than their historical averages in the second quarter of 2023, up from 94% in the … Continue reading
Mortgage Rates Rise for the Third Consecutive Week
August 10, 2023 For the third straight week, mortgage rates continued creeping up and are now just shy of seven percent. There is no doubt continued high rates will prolong affordability challenges longer than expected, particularly with home prices on … Continue reading
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending July 29, 2023 Single-family housing starts fell 8% to a seasonally adjusted annual rate of 1.43 million in June, according to a joint report from the U.S. Census Bureau and the Department of Housing and Urban Development, … Continue reading
Mortgage Rates Increase
August 3, 2023 The combination of upbeat economic data and the U.S. government credit rating downgrade caused mortgage rates to rise this week. Despite higher rates and lower purchase demand, home prices have increased due to very low unsold inventory. … Continue reading
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