If you’re a home builder, realtor, or someone in the real estate profession, you’ll want to pay attention to these stats. While this week’s video might not be the most entertaining, it sure has some positive information that we all have been hoping for.
Rates? Still going up. When red goes down on the chart, rates are going higher. The Fed met yesterday and mentioned raising rates one more time by the end of the year. They revised its economic growth expectations for this year with GDP expected to rise to 2.1% – which is really good! However, we will keep an eye on this growth as 30% of the US government’s debt is due in the next 6-12 months for refinancing. Hopefully we will see this shift in the coming months.
According to the NAR survey, 39% of buyers saying they aren’t buying because of high rates. The next big reason for the lack of buying is multiple offers – they’re waiting for the market to cool down. If you’re a home builder, reach out to our team to see how we can get you a 4.25% rate.
The current median house price is now $407,000.00. Houses are getting more expensive and will continue to get more expensive. With existing home sales, view our video above to see some awesome stats.
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