In order to understand the real estate market trends for 2023 let’s take a look at some economic factors: Interest rates, affordability, housing shortage and home sales. Interest Rates During 2022, the Federal Reserve Bank increased mortgage interest rates 7 times as seen in this chart. Once the rate of inflation was going up they moved […]
Will War Over Russian Invasion Impact Mortgage Interest Rates?
The inflationary trend in the global economy has have an effect on housing affordability. As consumers have less spendable income because of the rise in costs of goods and services, not to mention food and energy prices which has hit record highs. The latest crisis is the war between Russia and Ukraine. […]
January 2022 Pending Home Sales Decline
Pending home sales represent homes that are under contract but have not sold yet. According to the National Association of Realtors, pending home sales data shows a 5.7% decline for January 2022. That is a 9.5% from a year ago. The declined has been recorded nationwide in all regions of the U.S. The largest declined […]
Is The Best Time To Sell Your House Now?
Our economy is currently going through a high inflationary trend and rising mortgage interest rates. While at the same time, we have been experiencing a housing shortage supply, which resulted in extraordinary 2021 housing prices appreciation. But it seems that although 2022 will still bring modest buyer demand, experts are cautioning that we may be […]
