Strong Consumer Confidence and Lower Rates
Strong consumer confidence and lower rates (3.73% for 30 year fixed rate mortgage) are encouraging buyers to buy higher priced homes, which had sunk severely in the last year. First time home buyers accounted for 31% of the sales, down from last month’s sales. All cash sales were even with July but down from last August at 2%.
RECENT POSTS:
If you've been thinking about selling, you've probably seen plenty of headlines suggesting buyers have just about disappeared.
If the first half of this year has left you feeling stuck, you're not the only one. Mortgage rates stayed higher than people wanted.
Saving for a down payment can feel like the hardest part of buying a home.
After the Fed's June meeting, "I'll wait for rates to drop" is a weaker bet. Here's the honest version of that conversation.
One of the biggest reasons buyers are still sitting on the sidelines is because they think home prices are going to come down.
A lot of people who want to move are telling themselves the same thing:
"Maybe I'll just wait until later this year once things calm down."
