BUYER SLOW DOWN IN JUNE
According Housingwire, the percentage of buyers that went into escrow dropped from 31.9% nationwide in May to 30.5% in June. Why? The mortgage interest rate went from 3.274% in May to 4.276% today. That means a buyer’s payment jump from $1,170 to $1,272 on a $185,000 Purchase. To a buyer, payment is everything.
If you are waiting to SELL your property, thinking your value will continue to increase, think again. Prices are leveling off. See “Home Prices Will Even Out in 2014“. Want to know what your home is worth? We offer free home analysis. Click HERE and enter your address on the subject line along with “free analysis”.