A Guide for Potential Homebuyers | 1-Minute Market Update w/ Martin Perdomo
Are you ready to unearth the secrets of the ever-evolving real estate market? This week, we're cracking open the complexities of the housing market, and we promise, you'll walk away with insights you never knew you needed! Mortgage applications are down by 6% and 22% from the previous week and year respectively, and the 10-year treasury rates are causing a stir in the market. Notably, the median home sales price has increased to $370,900 – a staggering 2.9% rise from a year ago! But don't fret, as we see a potential shift in this trend.
Get set to discover the 'sweet spot' for homebuyers this fall, as we dive into Zillow's analysis. With an increasing proportion of sellers lowering their asking prices, could this be the golden opportunity for homebuyers? Beware of the high-interest rates and steady home prices, but the key could be in the negotiation. The increasing number of listings and price cuts point towards a potential transition from a seller's market to a buyer's market. Don't miss out on learning how to tactically navigate these changes for success in your real estate ventures!
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