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...
This is from one of lenders I work with, Chris Maxwell from Bank of Albuquerque. You can reach him at: 505-804-3191/cmaxwell@bankofalbuquerque.com National Real Estate News Bottoming out Existing home sales for January 2023 fell (a very modest) 0.7% MoM to an annualized pace of 4,000,000 units. That was the 12th straight month of decline. But look at the chart: it's bottoming. Existing home...
This was sent to me by one of the lenders I have used. Thought you all may like this information. By: Matthew Graham First off, I apologize. You're right. How would I know exactly what you've been told about mortgage rates today? I can only draw the same sort of general conclusion that is so frequently drawn on Thursdays during weeks with lots of rate volatility. The conclusion is that...