For the week ending July 30th
Properties lingering on the market one day more than they did the same week last year.
However, listings average only 32 days before getting snapped up, almost half the time it took two years earlier.
The week ending July 30, the new listing (median) price increased by 15.6% over last year. That’s 33 weeks straight of double digit increase of new listing prices on home listings.
Mortgage rates dropped below 5%
Meanwhile, the nationwide average monthly cost for a two-bedroom rental in August is $2,105, a 38% increase from a year ago.
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Please post a link with any data.
Wendy
Mortgage rates dropped below 5%
This point in particular seems suspect, despite it being repeated in multiple places. I’m in a Discord with a bunch of car nuts, one married to a nice lady who originates mortgages in central Ohio. The only way anybody in the area is getting a sub-5% rate is with a sky-high credit rating shopping multiple banks against each other, a very large purchase price, and paying points. Anybody looking for a more “normal” purchase is getting around 6%.
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