At this point in the year, there is a good sense for how the housing market is likely to perform for the foreseeable future. While it remains true that sales prices are running higher and inventory options are still relatively low, buyers are beginning to find some wiggle room at price points and geographies throughout… Read Post »
Buyers are beginning to return in full force this spring. The competition is fierce for well-priced homes in desirable locations. As prices continue to gain traction the median sales price in the Capital Region increased 5 percent to $214,946 with the percent of original list price received landing at about 95 percent. The median sale… Read Post »
Though during the first quarter of the year housing supply continued to struggle to replenish itself in most markets across the US, new listings in the Capital Region increased by 20 percent with 1,630 listings bringing the region’s inventory to 4,782, a nearly 8 percent increase in homes available for sale over last year at… Read Post »
Weather-related events have put a damper on the conditions ideal to make home sales during February, yet buyers have shown determination toward achieving their homeownership goals. The market is showing signs of waking up from the winter hibernation.
Freddie Mac recently reported that the 30-year fixed rate fell to 4.63 percent – the lowest it has been since mid-September. Mortgage rates have either fallen or remained flat for five consecutive weeks and nationally purchase applicants are responding with an uptick in demand given these lower rates.
As we enter the fourth quarter of 2018, the Greater Capital Association of REALTORS® reports the market activity has not slowed down.