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Mortgage rates up, inventory falling

March 13, 2023 By Geoffrey Disch Leave a Comment

The news continues to be tough in the housing market. Mortgage rates climbed to 6.73 % for a 30-year fixed mortgage while hoe prices increased by 6.3%.

New listings have declined for 35 weeks straight, down 26% compared with 2022. And houses on the market continue to sit for up to 18 days longer than last year.

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Filed Under: Real Estate Tagged With: housing market 2023

More on the market, 2023

March 9, 2023 By Geoffrey Disch Leave a Comment

Green Escrow | Real Estate Market News

Spring is here (almost) and the housing market is expected to … who knows? Mortgage rates are high and, based on the comments from the Federal Reserve on raising interest rates, expected to go higher.

Sellers have seen prices moderate a bit and and many have been forced to decrease asking prices. Houses are sitting on the market much longer as well.

Most analysts expect to see an upturn in the market in the coming months but nowhere near the craziness of the pandemic years or even the pre-pandemic times.

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Filed Under: Real Estate Tagged With: housing market 2023

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