Existing Home Sales slipped for the sixth straight month in July. But the good news was, median prices fell 2.4%, inventory continued to rise, and demand was strong, with 82% of homes sold in less than a month.
Housing Starts dropped in July. Starts for single-families are down 18.5% yearly, but up 17.4% for buildings with 5 units or more. Building Permits are down 11.7% annually for single-families, up 26.2% for 5+-unit buildings.
Freddie Mac notes: “Inflation appears to be beyond its peak, which has stopped the rapid increase in mortgage rates,” forecasting “supply will modestly increase, and home price growth will decelerate.”
Give me a call so we can talk about what is right for you at this time.
Mary Cockburn/505-639-2090/MaryCockburn.Realtor@gmail. com
