Oak Story Realty’s Post

Takeaways -- -- The median U.S. home sales price reached an all-time high of $439,716 in May, up 5.1% year over year. -- The typical mortgage payment for a homebuyer in May was $2,829, down slightly from the record high the month before. -- New home listings are up 13% compared to a year ago. However, inventory is still low in the grand scheme, down 34% versus pre-pandemic levels. -- Sellers seem to be testing the waters with astronomical asking prices that scare off buyers: 23.9% of homes for sale in May got a price cut, which is the highest share for the month in at least six years. -- U.S. home sales totaled 407,959 in May, the third-lowest tally in the last decade, during what’s usually a hot month for real estate. https://lnkd.in/erTRBZ7h

Toronto & GTA August 2024 Sales Stats. Toronto Regional Real Estate Board ® reported 4,975 home sales through TRREB’s MLS® System, reflecting a 5.3% decrease compared to the 5,251 sales in August 2023. Meanwhile, new listings reached 12,547, marking a 1.5% year-over-year increase. Greater Toronto Area (GTA) home sales declined year-over-year, while new listings saw a modest increase. Despite maintaining a steady supply of homes, the average home prices only edged slightly lower compared to August 2023. TRREB Chief Market Analyst noted, as borrowing costs trend lower over the next 18 months, home buyers will initially benefit from lower mortgage payments and prices. While demand is expected to rise in 2025, it will take time for the inventory of listings to be absorbed, keeping price growth moderate. ❇️ Looking for the Perfect Match 🏡? ❇️ Want to know what these numbers mean for prices in your specific area 📍? 📞📱📧 Let’s Talk: https://bit.ly/2Q2bOWm

September marked a significant moment for the housing market, with existing home sales dropping to their lowest level since 2010. High mortgage rates and limited inventory continue to challenge affordability, keeping many potential buyers on the sidelines. If you’re considering making a move or exploring refinancing options in today’s market, it’s crucial to have a plan. Reach out to discuss how to navigate these shifting conditions and make the most of the current opportunities. #HousingMarketTrends #HomeSales #RealEstateUpdate #MortgageRates #BuyerStruggles

Austin home prices have fallen 3% year-over-year. That may not seem like a lot, but it's the highest decline of any major U.S. metro, according to Redfin. For buyers, this could be further encouragement to consider a move, especially considering the amount of inventory on the market and the fact that these summer months tend to be quieter and less competitive. We've actually seen several clients get homes under asking price - definitely a nice way to help offset to current mortgage rates. #austinrealestate #atxhomes #buyinginaustin #austinmortgage #movetoaustin #movetoatx #austinhomebuyer #atxrealestate

🚨Home Prices Trend🚨 This past year brought us a surprising upward trend in home price growth despite the persistence of high mortgage rates and rising inventory. Our full-year expectation for 2024 home price growth is 4%, up significantly from the 1.1% rate of 2023. What’s more, we expect home prices to continue to rise in 2025, although at a slightly lower pace of 3.7%. Why? While we’re forecasting mortgage rates to be slightly lower than they were in 2024, with an average monthly rate of 6.3% and year-end rate of 6.2%, we’re also expecting existing for-sale inventory to be 11.7% higher in 2025 than in 2024 (as detailed below). We think the downward pressure on price growth due to this supply-side effect will slightly win out over the upward pressure on price growth due to falling mortgage rates next year (at least compared with the relative balance this year). Team Avalos-Carlos & Rose Realtor® | DRE Lic# 01812057 NextHome Real Estate Rockstars ☎️Carlos 818-399-4093 ☎️Rose 818-590-2077 🌏SFVandSCVhomes.com

Gain insights into the latest U.S. home sales trends for May 2024, revealing declines amidst high mortgage rates and record prices, as reported by Redfin. #Homesales #Realestate

🏡 𝗦𝗹𝘂𝗴𝗴𝗶𝘀𝗵 𝗦𝘂𝗺𝗺𝗲𝗿, 𝗕𝘂𝘀𝘆 𝗙𝗮𝗹𝗹? Real estate pros are optimistic about the coming months! With more homes hitting the market and mortgage rates dropping, buyers might find the perfect opportunity this fall. 🔹 Inventory is up 23% year-over-year, giving buyers more options. 🔹 Median home prices across the U.S. continue to rise, led by an 8% increase in the Northeast. 🔹 Lower mortgage rates could bring buyers back, helping to offset higher home prices. Get the full scoop on the latest market trends! 👇 https://bit.ly/3BwFYZt #RealEstateTrends #HousingMarket #RealEstateNews #MyMetroTex

🏡 Contract Signings Rise as More Listings Hit the Market 🏠 Despite mortgage rates near 7%, home buyers are finding more options. According to NAR's latest housing report, pending home sales rose nearly 5% in June 📈. All major US regions saw gains. Key Takeaways: 🔹 More housing choices for buyers 🔹 Less intense multiple offers 🔹 Median home price hits $426,900 📈 🔹 Mortgage rates average 6.78% 📉 🔹 Growing opportunities for real estate pros NAR's Chief Economist Lawrence Yun notes more inventory expected before winter 🍂. It's a good time to list! 🏠 https://loom.ly/DwxbjFc

🚀 Houston Housing Market Update: October saw double-digit growth in home sales despite rising mortgage rates. 🏡 • Single-family home sales up 12.8% YoY, with 7,185 homes sold. • Average price rose 5.2% to $423K; median price up 2.7% to $334.9K. • Luxury homes ($1M+) led the surge, with sales up 33.8%. The market remains active as we head into the final quarter of 2024! 📈 #HoustonRealEstate #MarketUpdate #HomeSales Follow the link to see full report: https://lnkd.in/gUwAMNVz

Mid-Year Real Estate Market Update for 2024: What Buyers and Sellers Need to Know Are you up to date on the real estate market? Nearly halfway through 2024, here’s what buyers and sellers need to know: 📉 Mortgage rate cuts are taking longer than expected 🧑 More sellers are returning to the market 💰 Home price appreciation is slowing 🏘️ Desire to buy a home remains strong, despite affordability concerns Check out our latest blog post to learn what these trends could mean for you!