Is Home Price Appreciation Accelerating Again?
Arrowhead Woods prices are climbing as is the entire nation. Arrowhead Woods first quarter median price was $580,000, not an exciting rise, though steadily upward from 2020. We could attribute the more modest increase to typical winter / snow weather for our mile high private lake. April 2021 however, with the smallest home inventory ever, 72 homes, shot up to 47 sales in 35 days with the price roaring up to a median of $720,000…a 24% rise. Can this really continue? The window for committed sellers has no precedent here in the mountains.
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Homebuyers are watching the economy closely, and for good reason. Buying a home is one of the biggest purchases most people ever make.
A lot of buyers are stuck in “wait and see” mode right now. They’re watching rates hover a little above 6% and thinking, I’ll buy once they hit the 5s
There’s been a lot of talk lately about how a government shutdown impacts the housing market. You might be wondering: Is it causing everything to grind to a halt?
Mortgage rates have been the monster under the bed for a while. Every time they tick up, people flinch and say, “Maybe I’ll wait.” But here’s the twist. Waiting for that perfect 5-point-something rate could end up haunting your wallet later.
These days, you’re going to want to get your price right when you get ready to sell your house. Honestly, it’s more important than ever.
After reviewing what Lake Arrowhead Buyers need most affordability and rates!
