The average 30-year loan jumped from 5.23% to 5.78% two weeks ago. According to Freddie Mac, this was the most significant one-week surge in over three decades. So should you pause your home search? We have had nearly two years of record-low mortgage rates, and it feels shocking to see interest rates rising above 6%. […]
Archives: June 2022
A Key Opportunity for Homebuyers
There’s no denying the housing market has delivered a fair share of challenges to homebuyers over the past two years. Two of the biggest hurdles homebuyers faced during the pandemic were the limited number of homes for sale and the intensity and frequency of bidding wars. But those two things have reached a turning point. […]
Two Reasons Why Today’s Housing Market Isn’t a Bubble
You may be reading headlines and hearing talk about a potential housing bubble or a crash, but it’s important to understand that the data and expert opinions tell a different story. A recent survey from Pulsenomics asked over one hundred housing market experts and real estate economists if they believe the housing market is in a bubble. The results indicate […]
MARKET CONDITIONS FOR MAY 2022
CONTRACTS Contract activity in May 2022 was down 18.0% from May 2021 and was down in all price categories. Through the first five months of the year, contract activity is down 13.8%. The average number of days on the market for homes receiving contracts was just 13 days in May 2022, down from 15 days […]