Fewer homes coming on the market, fewer sales, and more price adjustments reflects the past two weeks. It appears we are experiencing a seasonal/holiday affect as well as a slow-down in activity due to higher mortgage rates and consumer confidence.
Inventory levels are virtually unchanged over the past month.
60% of the homes for sale are single family, the rest are twinhomes, townhomes, or condos. New properties coming on the market have fallen and off-market properties have increased. Sales have remained steady. Mortgage rates have stalled.
The number of homes for sale through the MLS system has increased.
The number of properties closing is down, so are pending/contingent sales waiting to close. In general, we are seeing a 30% reduction in the number of homes going under contract. Mortgage rate for a 30 year conventional loan is 7%, government loans are less.
Inventory levels are nearly identical from two weeks ago.
New listings are down 20%. Sale pendings are down slightly. Off market property is steady. Days on market is unchanged. Mortgage rates are moving higher… 6.75% for a 30 year conventional loan.
There is definitely a shift in the air. Inventories are increasing.
Mortgage rates are up. Consumer confidence is waning. Cost of housing with earlier higher prices, coupled with higher cost of money has increased a potential buyer's monthly investment. Add this to a higher cost of living for almost everything and some buyers have...
Inventories are increasing.
More houses are coming on the market. Sales are steady. Prices are stabilizing.
The number of homes for sale is slightly higher this period over the previous two weeks.
More listings have appeared, both sale pending and contingent sales are up as well. Days on the market remain the same.
New listings coming on the market are outpacing sales
Inventories are increasing. An interesting factor is the number of homes reducing their asking price, a prelude to lower prices in general. Values are up approximately 18% for the year. Days on the market remain unchanged, good properties still sell fast. Overall...
Inventories are growing, mostly from fewer sales.
More sellers are making price adjustments. More sales have fallen out and are back on the market. Mortgage rates have been bouncing around, today they are 5.375% for 30 years and as low as 4.50% for a Jumbo 15 year.
Inventories Are Up
More new listings hitting the market. Sale pendings are up slightly. Mortgage rates took a fairly steep rise, 5.25% to 5.75% range. There are many different programs for financing available and easy to fit your timeframe and plans.