Asking Prices Slip for First Time Since November 2012
For the first time since November 2012, asking home prices decreased month-over-month, slipping 0.3 percent from June to July according DSNEWS. One factor was the rising mortgage rates which led to asking price slipping. Compared to last year, asking prices are still very strong. An 11% increase nationwide. “California and Nevada remain the Wild West for asking home prices, with the strongest rebounds over the past year, and now biggest slowdowns in the past quarter.” said Jed Kolko, Trulia’s chief economist.
Now’s a great time to sell. If mortgage rates continue to rise, price may decline. See blog “Buyer Slow Down in June“.
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