This real estate market is still RED Hot with a lower-than-normal number of homes for sale. What signs of market cooling off should our listeners be looking for in the coming months?
Looking at Latest #s:
- The Market is Still Very Strong
- Inventory down by 61.3%
- Only 815 Homes on the Market in 3 counties
- Should be Over 2500 Homes on the Market
Number of Home Sales UP by 36.2%
Average Sales Price UP by $55,627 Since January
Could a Housing Market Correction be Here?
NO, But the RATE OF APPRECIATION WILL SLOW DOWN…HOW?
- INTEREST RATES RISING
- Fed already announced – Result:
- ¼ % bump in rates
- Home Sales up by 4.8% Nationwide (25% here)
- Forecast down from previous due to:
- Lower Pending Sale Figures
- Lower Mortgage Application
- Next Year
- Rate of Appreciation down from 23% to 12%
If You Are Thinking of Selling, NOW is the Time to Command Top Dollar.
We are talking about some indications the market could be softening, what are some other things potential home sellers should know?
- Peaked early May – 300% in Average
- Lumber Prices down 30%
- Increase in Lumber Prices Added:
- $36,000 to the sales price of a new home!
Real estate is all about supply and demand. The justification that Real Estate Pricing Surges Will Continue? Housing Costs more Expensive.
- BIGGEST INDICATOR ON DEMAND: INTEREST RATES!
- WE ARE NOT IN A BUBBLE
- Indications of a Decline in Demand for Homes
- New Home Building is Surging Record Levels
- Eviction and Foreclosure Mortarium’s Rolling Off at End of June
- All Happening at ONCE
We Are STILL IN a STRONG SELLERS MARKET
- Can you Sell AS IS?
- Yes, but you Get Top Dollar Making your Home MOVE IN READY! ~
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