With all that is happening right now regarding interest rates and the housing market, it makes it difficult to know if one should purchase a home right now or should one wait and continue to rent. Chris Maxwell from Bank of Albuquerque sent me this calculator that just may help you with that decision. Go to Buy Now vs. Wait Calculator and see what is right for you. Then let’s talk and if it is...
2023
The CoreLogic Home Price Index (HPI) reported year-over-year home price growth fell to 3.1% in March, hitting its lowest appreciation rate in 11 years. Monthly price growth fell to 1.6%. Although construction spending was up overall in March, residential spending came in a tick below February at a still respectable $827.2 billion annual rate. Given the low existing home inventories, builders are...
Political and economic changes have contributed to the steady rise in house prices. Other vital wages rise factors that factor into why houses cost so much include: Lower Interest Rates Demographic Change Higher Building Costs Lower Builder Trust Augmentation of Land Prices State Subsidies Increase in Local Zoning Regulations...
Home prices continue to rise even now. Based on NY Rent Own Sell research, house prices have climbed by about 15% over the past year. The fact that houses are now so expensive is simply the outcome of the supply and demand problem. Following the onset of the COVID-19 pandemic, interest rates were reduced to boost economic health. The drastic drop in interest rates, combined with numerous Americans’...
Here is a great article from the Albuquerque Journal about the Real Estate Market here. https://www.abqjournal.com/2592974/2023-home-market-like-a-conundrum-so-far.html If you are looking at either buying or selling, give me a call. Mary...
I thought you may want to know what the housing market is looking like with all the craziness going on in the finance world. So below is a report I received this morning about that. Increasing for the first time in six months, housing starts shot up 9.8% in February, with both single-family and multi-unit projects posting gains. Building permits did even better—up 13.8%, the largest monthly gain...
This past week, home loan rates improved to their lowest levels in a month in response to the closures of Silicon Valley Bank (SVB) and Signature Bank. Let's walk through what happened as we approach the Fed Meeting next week. "Bringin' on the heartache, Can't you see?, Can't you see?" Bringin' on the Heartbreak? Def Leppard. SVB Failure and Rates It's important to remember that bonds enjoy bad news,...
A week ago today was President's Day. What did you do to honor our Presidents of the past and present? I spent time with my grandchildren and reading about our very first President. In doing so, I wanted to past this article on as I thought it was something we all could...