Hey there, Friends!
The supply of homes for sale has experienced a significant increase, with 65% more real estate listings in January than in the same month the previous year, according to a report from Realtor.com®. Despite being higher than the previous year, home prices have decreased from their peak during the COVID-19 pandemic.
January's median home list price was $400,000, steady since December but lower than the record high of $449,000 in June. Furthermore, mortgage rates have dropped from their 20-year high of 7% in November, with an average of 6.13% for a 30-year fixed-rate loan in the week ending Jan. 26.
With these factors, lower mortgage rates, stable home prices, and a surge in listings, it provides an excellent opportunity for homebuyers to enter the market and find a good deal.
Did you know that owning a home is a powerful way to build wealth and secure your family's future? Your home is a wise investment that can bring financial opportunities as it increases in value over time.
If you're considering investing in a home or selling your current one, I'd love to help you make it happen. I'm confident in my ability to exceed your expectations and guide you through the process every step of the way.
Let's chat!
Best, Jeff Cobb |