Local Market Update – February 2023 In its continued effort to curb inflation, the Federal Reserve raised its benchmark interest rate in February by a quarter-percentage point to 4.50% – 4.75%, its 8th rate hike since March of last year, when the interest rate was nearly zero.
Read more →Local Market Update – January 2023 The US housing market began the year in a state of rebalance, with many buyers and sellers remaining cautious while they wait to see where the market is headed. Nationally, pending sales rose 2.5% month-to-month, marking the first increase since May,
Read more →Local Market Update – December 2022 2022 was a turbulent year for the US housing market, as inflation, soaring interest rates, and elevated sales prices combined to cause a slowdown nationwide. Affordability challenges continue to limit market activity, with pending home sales and existing-home sales down month-over-month
Read more →Local Market Update – November 2022 Housing affordability continues to be a major roadblock for market participants, with mortgage rates more than double compared to this time last year. Buyers are delaying home purchases in hopes rates will drop, while many sellers are holding off on listing
Read more →In this video, PSCP Agent Stuart Shefter explains what closing costs are, where they come from, and a few strategies to reduce them. Click here for more videos from Stuart.
Read more →Local Market Update – October 2022 Existing home sales declined nationwide for the eighth consecutive month, falling 1.5% as of last measure, according to the National Association of REALTORS® (NAR), with sales down nearly 24% from the same period last year. Pending home sales also declined, dropping
Read more →“How much do I need to save?”…”How much are closing costs?”…”How much does a home actually cost?” They’re all variations on the same question, which agents get all the time. In this video, PSCP Agent Stuart Shefter offers a full break-down of all the potential expenses that
Read more →Local Market Update – September 2022 The U.S. real estate market continues to slow as we move into fall, as rising consumer prices and higher mortgage interest rates squeeze homebuyer budgets and cool activity. With inflation showing little sign of abating, the Federal Reserve implemented another 75-basis-point
Read more →It’s important to know what does and doesn’t automatically convey with a home sale. Some listings have items specifically mentioned in their description…but wait…aren’t those supposed to come with the house anyway? In this video PSCP Agent Stuart Shefter explains what conveys with the sale of a
Read more →Local Market Update – August 2022 Summer 2022 has been a season of change for the U.S. real estate market. With housing affordability at a 33-year low, existing-home sales have continued to soften nationwide, falling 5.9% month-to-month and 20.9% year-over-year as of last measure, according to the
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