Local Market Update – May 2020 While the effects of COVID-19 in the broader economy continue, real estate activity is beginning to recover across much of the country. According to Freddie Mac, mortgage rates have been below 3.3 percent for more than four weeks and are hovering
Read more →Local Market Update – April 2020 Uncertainties in the market surrounding the coronavirus have presented a number of challenges within the real estate industry – an industry that has traditionally relied heavily on personal contact and opening ones’ homes up to the public. Now, with fears of
Read more →Local Market Update – March 2020 As COVID-19’s impact spread across the country in March, the stock market declines started in February accelerated downward before recovering a bit in the last week of the month. With volatility across all the financial markets, lenders began tightening underwriting standards
Read more →During this unprecedented time, Peak Swirles & Cavallito Properties is doing our part to help stop the spread of COVID-19 in our community. For the safety of our clients, agents and staff, our physical office is closed and open houses and in-person showings are postponed as we
Read more →Local Market Update – February 2020 As we progressed through February, the actual and expected impacts of COVID-19 continued to grow, with concerns of economic impact reaching the stock market in the last week of the month. As the stock market declined, so did mortgage rates, offering
Read more →Local Market Update – January 2020 For 2020, The National Association of REALTORS® Chief Economist Lawrence Yun sees good news for home prices. “National median home price growth is in no danger of falling due to inventory shortages and will rise by 4%,” the longterm NAR economist
Read more →Local Market Update – December 2019 In 2019 home prices were up again in most markets. Buyer demand continues to be strong but with tepid seller activity still in many locations, total sales are lower than they would normally be in a more balanced market. While up
Read more →Local Market Update – November 2019 In November, the Federal Reserve reduced its benchmark rate for the third time this year. This action was widely anticipated by the market. Mortgage rates have remained steady this month and are still down more than 1 percent from last year
Read more →Local Market Update – October 2019 In October, mortgage rates increased slightly from the three-year lows seen in September. While the Federal Reserve reduced the federal-funds target rate by .25%, this decline was widely expected and largely factored into mortgage rates already, which are still approximately 1%
Read more →Local Market Update – September 2019 With the kids back in school and the weather cooling, the housing market begins its annual cooldown as well. Nationally, buyer and seller activity remained strong, buoyed by low mortgage rates and a strong economy. The market fundamentals suggest no significant
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