July saw a bounce back in home sales from the disappointing June. It appears that low-interest rates encouraged more buyers to jump into the market in July according to the latest RE/MAX National Housing Report. Here are three takeaways.
– Home sales Increased year-over-year by 2.4%.
– The number of homes on the market declined for the first time in nine months.
– Prices were up year-over-year for the seventh month in a row.
So what can you expect if you’re entering the market this fall? If you’re selling, things are looking up for you. Buyers can expect higher prices. However, interest rates remain in your favor. As we wrap up the end of August, keep in mind that fall is a great time to be in the market. Let’s talk about our local market in person. Give me a call, shoot me a text, or reply to this email to set up a time to meet.