The median sales price increased 2.0% to $362,000 Signed purchase agreements fell 1.5%; new listings up 5.3% Market times flat at 40 days; months’ supply up 10.5% to 2.1 months (Dec. 15, 2023) – According to new data from Minneapolis … Continue reading
Mortgage Rates Drop Below Seven Percent
December 14, 2023 Potential homebuyers received welcome news this week as mortgage rates dropped below seven percent for the first time since August. Given inflation continues to decelerate and the Federal Reserve Board’s current expectations that they will lower the … Continue reading
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending December 2, 2023 Mortgage rates dropped for the fifth consecutive week, with the average 30-year fixed-rate mortgage declining to 7.22% the week ending November 30, 2023, the lowest level since September, according to Freddie Mac. As a … Continue reading
Nearing Seven Percent, Mortgage Rates Continue to Decrease
December 7, 2023 The 30-year fixed-rate mortgage averaged near 7 percent this week, down from nearly 7.80 percent just six weeks ago. When rates began to rapidly drop, purchase applications rebounded initially, but this improvement in demand diminished in the … Continue reading
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending November 25, 2023 Down payments reached a new high recently, as rising interest rates, elevated sales prices, and increased competition have led homebuyers to put more money down when purchasing a home. According to Realtor.com, buyers made … Continue reading
Mortgage Rates Drop for the Fifth Consecutive Week
November 30, 2023 Market sentiment has significantly shifted over the last month, leading to a continued decline in mortgage rates. The current trajectory of rates is an encouraging development for potential homebuyers, with purchase application activity recently rising to the … Continue reading
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