05/04/2021
Here is the current market update from Realtor.com. Prices keep going up and rates are staying low!!! It's a GREAT time to list your home or investment property so give me a call and we can chat!
Realtor.com COVID-19 Housing Market Update
Median listing prices grew at 18.7 percent over last year, marking 35 consecutive weeks of double-digit price growth. In the second half of 2020, buyers could handle higher prices without batting an eye thanks to falling mortgage rates which meant falling monthly payments even as prices rose, but this may soon change. The monthly payment for the median priced home increased $100 in the last month thanks to soaring home prices and now climbing mortgage rates. On top of this, although they remain historically low, mortgage rates are expected to increase further later in the year. Thus, affordability will be a growing challenge for home buyers in the months ahead, as prices and rates both climb.
