Highlights for the week ending May 21, 2023 The number of new listings in the Bright MLS footprint has been gradually increasing, although at a slower pace. Compared to previous years, there is a noticeable decrease in the number of new listings. For the week ending May 21, 2023, new listings are 24.0% lower than the same period last year. Despite the absence of the usual spring surge in listings, there...
The Weekly Market Report provides an up-to-date listing and showing information to help you track market activity in real-time. These reports are posted to this page as they are released. Here are the highlights for the week ending May 14, 2023: Slow, persistent growth in contracts. New purchase contracts across the Bright MLS footprint rose 1.2% from last week. While bumpy from week to week, there...
Unlock the Latest Real Estate Market Insights! 🏡💼📊 As your trusted real estate advisors, we have exclusive access to the latest market reports. Simply contact us and provide the county, state, or zipcode of the area you're interested in, and we'll provide you with the most up-to-date data and trends. Don't miss out on this valuable information – reach out to us...
A new home may be within reach. Get a grant of up to $7,500 toward the purchase of a primary residence with a mortgage loan. Qualified buyers may be able to purchase a new home in targeted markets, with help from our Grant Program. Requirements: • Buyers must purchase a one-unit primary residence within a county on the Grant Targeted Markets list (see back page). • The grant may be awarded for...
After a few years of flying high, home prices are finally coming back down to earth with a thud. In fact, the prospect of an outright price drop is looming on the horizon, according to a new Realtor.com report. In March, real estate listing prices came in nationwide at a median of $424,000, down from June’s all-time record high of $449,000. And while this March’s prices are 6.3% higher than in...
The takeover by banking regulators this month of Silicon Valley Bank and Signature Bank has conjured up the ghost of the Great Recession.Of the 523 bank failures since 2008, Federal Deposit Insurance Corp. figures show, only one was larger than either Silicon Valley Bank or Signature Bank. That would be Washington Mutual Bank, which had $307 billion in assets, while Silicon Valley Bank had $209 billion and...
If you’re in the market for a home but are discouraged by the current high mortgage rates, you’ve probably heard the advice “buy now and refinance later”—maybe from your mortgage lender, real estate agent, or a well-meaning friend. This seemingly simple solution might empower you to stretch your budget now, with the plan to refinance when mortgage rates drop. But is “buy now, refinance...
As a homeowner, it’s essential to make sure your home’s exterior is in good shape when it comes time to sell. First impressions are everything, and potential buyers can quickly be turned off by a home that doesn’t look well-maintained. That’s why focusing on the right exterior renovations and repairs can help you save money and protect your sale. Upgrade Your Front Door A worn or outdated...
Curious to learn more about how to make money in real estate? Are you itching to invest? We don’t blame you—real estate can be a solid investment as part of an overall portfolio, and a great way to ramp up cash flow. But what’s the best way to invest in real estate—without too much risk? There are two main real estate investing strategies: Fix and flip, or buy and lease out your real estate...
For many home shoppers, buying a house right now can seem like a very pricey pipe dream. Mortgage interest rates still hover at an uncomfortably high mid-6% range for 30-year fixed-rate loans. And the Realtor.com® economists expect home prices will rise 5.4% year over year in 2023. Those factors mean buying a home right now is an expensive endeavor. But this doesn’t mean your goal of...