Feds Make Biggest Mortgage Point Cut Since 2008
July shows a mix of indicators. The number of new listings decreased by 14.9 percent comparing with July of the last year and the number of closed sales decreased by 4.2 percent leading to 5.6 percent increase in the number of homes available for sale. The prices, however, are holding steady – July median home sale price is only 2.4 percent lower than in July of last year.
The number of new contracts, the leading indicator of the upcoming market activity, increased by 8.2 percent as buyers are taking advantage of the improved lending environment. Overall the market is moving further toward a state of balance.
If you are thinking about buying, selling or investing in real estate, let’s talks. Let us help you take advantage of this dynamic market situation.
Elena & Michael Talis