We’re keeping an eye on the latest data, and here’s what you need to know about the current market trends:
✨ More Listings: New home listings are up 8% compared to this time last year. That means more options for buyers! ✨ Inventory Growth: Total housing inventory has increased by 10%. It’s a great time to explore what’s out there. ✨ Prices Rising: The median sale price has climbed 6.4% year-over-year to $383,750—the largest increase since 2022. ✨ Mortgage Payments: The average monthly payment is now $2,515 with a 6.91% rate. Planning ahead is key! ✨ Less Competition: Pending sales have dropped by 1.1%, giving buyers more breathing room. ✨ Active Listings: Up nearly 10% from last year, offering more choices than we’ve seen in a while. ✨ Market Balance? Months of supply is at 4.2—nearing that balanced market sweet spot!
👉 So, What’s the Takeaway?
If you’re looking to buy, this is a great moment to explore more options with less competition.
If you’re thinking about selling, it’s all about pricing your home right to stand out in a growing market.
The market is constantly changing, but it’s packed with opportunities no matter where you are. Ready to make a move or have questions about what this means for you?
💬 Reach out today for more information and guidance tailored to your needs!
* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.
