February 17, 2022 Mortgage rates jumped again due to high inflation and stronger than expected consumer spending. The 30-year fixed-rate mortgage is nearing four percent, reaching highs we have not seen since May 2019. As rates and house prices rise, … Continue reading →

February 10, 2022 The normalization of the economy continues as mortgage rates jumped to the highest level since the emergence of the pandemic. Rate increases are expected to continue due to a strong labor market and high inflation, which likely … Continue reading →

The number of homes for sale was down compared to this time last year. Inventory levels market-wide decreased 28.3 percent to 4,193 units.

Months’ supply of inventory was down 21.4 percent since last year at 1.1 months. That’s well below the 5 months that’s considered balanced. Percent of List Price Received at Sale remained at 100.7 percent since last year.

Months’ supply of inventory was down 23.5 percent to 1.3 months. A balanced market is about 5-6 months of supply. 1.3 months of supply indicates a pretty extreme sellers’ market.

November 10, 2021 Despite the re-acceleration of economic growth, the recent bond rally drove mortgage rates down for the second consecutive week. These low mortgage rates, combined with the tailwind of first-time homebuyers entering the market, means that purchase demand … Continue reading →

There are some signs of a potential market shift, even though both new and active listings are down compared to last year and sales are up compared to 2019.

In new construction, home builders continue to struggle to meet buyer demand, as housing starts nationwide dropped 7% last month, according to the Commerce Department.

The increase in sales prices comes with a slight decline in existing home sales nationwide, as homebuyers struggle with declining affordability amid a lack of inventory, forcing some buyers to simply wait it out in hopes of more inventory and … Continue reading →