Interest Rates Hit a New High for this Year, but so did the Average Sale Price!

  • With some retail Banks advertising the 30-Year Fixed rate at 6.625% to 6.75% over the past couple weeks and most other lenders Above 7%, we should start seeing less market activity.  However the New Transactions this last week remained Strong and Consistent for about the 5th week straight.  
  • The Average Sale Price Rose Another 1% vs the previous week (the highest number we've seen so far this year), but was relatively unchanged at 0.6% Lower than the same time Last Year.    
  • The Supply of Homes available to purchase Increased by Another 4% this week, but with fewer homes being listed for sale, the rate of growth this year is below the increases we saw last year at this time.  

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