Facebook
X
Pinterest
Copy Link
Aloha Everyone,
I know it has been a while since I updated my sales graphs but it has been some different times coming off the COVID bubble. Home prices are settling back to the trends, previous to COVID, where we saw steady growth since the recession. Mortgage rates are having an affect on sales, but so many people don’t realize that the current rates were the norm for many years prior to the recession. We all got spoiled with those low rates.
As you can see, the baseline prices are still trending up after COVID
This trend is slowly getting back to 100% or lower since bidding wars have gone away.
Days on Market is still staying low under 100 days.
The dip here is showing the affects of the mortgage increases.
We have been in a steady growth since 2012 after recovering from the Great Recession and now that the COVID bubble is in the past, I don’t see any reason yet for that to change. So if you are still interested in buying, there is’t any better time. If you are needing a mortgage, many lenders are offering free refi’s and ways for sellers to buy the interest rate down for the next 2 to 3 years.
Call me with any questions I can help with.
