Lake Arrowhead Has Strong Start For 2 Months. Sales Up 10%, Prices Up 8%
Sales rose 10% with prices gaining 8%, despite the lowest inventory in 40 years. We have 176 homes for sale in Arrowhead Woods, about the same as last year. Since the ‘70s we have had very few months with inventories below 200 home listed. Our community is 75% vacation homes plus see-saw winter weather so we are not likely to move this resort at the same pace as the nation. The National Association of Realtors said “due to the good economic backdrop and exceptionally low mortgage rates, national sales are now a healthy 18% higher than a year ago”.
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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!
