Report: Signs Point to Increases in Number of Home Listings and Stable Prices in 2024 For the first time since May 2023, home shoppers are seeing a larger number of unsold homes on the market, according to the Realtor.com December Monthly Housing Trends Report, released earlier today. Looking ahead, as mortgage rates have been on a […]
Inflation Rate Falls to Lowest Annual Rate in Two Years Inflation showed further signs of cooling in June, posting an overall 4.1% increase from June 2022, the Commerce Department reported earlier today. The June annual inflation rate was the lowest since September 2021 and marked a decrease from the 4.6% pace in May. The […]
Blog Post – April 2023 The New York City/Lower Hudson Valley market’s house buying sales volume continues to suffer from the adverse trinity of high inflation, high mortgage interest rates, and low inventory. In some markets, single-family home prices values have continued to grow in the first three months of this year, but there are […]
Blog Post – January 2023 According to Nadia Evangelou, director of forecasting for NAR, rates will likely be less volatile in 2023 after increasing by twice what they were a year ago. Article on National Association of Realtors: https://www.nar.realtor/magazine/real-estate-news/economist-mortgage-rates-will-dip-below-6-soon
Blog Post – December 2022 Jerome Powell, the head of the Federal Reserve, announced a 0.5 percentage point increase in interest rates on Wednesday and stated that the Fed anticipates further increases to be likely. Wall Street Journal Article: https://www.wsj.com/articles/fed-raises-rate-by-0-5-percentage-point-signals-more-increases-likely-11671044561
Blog Post – July 2022 2nd Quarter 2022 Sales Report is in! “While sales volume is down in the Hudson Valley counties, median sale prices continued to climb, fueled in large part by the low inventory of homes on the market. In Westchester County, the second quarter single-family home sales of 1,583 declined 14.2% compared […]
Blog Post – May 2022 Federal Reserve Hikes Rates by Half Percentage Point As expected, the Federal Reserve, in an attempt to try to control inflation and ratchet down economic growth, raised interest rates this afternoon by a half percentage point. The current borrowing rates have remained low for buyers and investors, however, are predicted […]
Blog Post – March 2022 Just as predicted, the Federal Reserve rates have increased to control the current market inflation. There will be a slow and steady rise this year, increasing the rates for mortgage loans. This is the time for buyers and investors to get that fixed rate loan before the current […]
Blog Post – January 2022 Diligent Searches Realty has been closing transactions for buyers, sellers, and investors making strategic moves in this advantageous real estate market. The current borrowing rates have remained low for buyers and investors, however, are predicted to rise again with anticipated federal reserve policy changes due to inflation. Sellers continue […]
Blog Post – August 2021 What a crazy summer this has been in real estate! It seems hard to believe there is low inventory of homes to purchase because we see For Sale property signs everywhere….. What we don’t see, is the number of buyers that are shopping for homes. In order to identify […]