April 16-22nd Is Peak Week to Enter The Real Estate Market And Here Is Why...

If buyers and sellers knew mortgage rates were coming down, would that get them off the sideline?

Yes, and that is what the numbers are showing!

CPI

Mortgage rates follow inflation, and with the inflation coming down mortgage rates should follow suit and buyers are getting ready to make their move.

Mortgage Application Volume

Mortgage application volume responded quickly to recent rate drop as applications increased last week for the 5th time in 6 weeks.

Google Analytics

Google searches for the term "homes for sale" were up 44% from the low they hit in December and we haven't seen this much of an increase since last year.

Supply

The home selling sentiment has also improved! The improved sentiment of the respondents towards selling conditions may encourage more homeowners to put their homes on the market, leading to an increase in inventory. Which is needed as newly listed homes in the month of March 2023 lagged behind all previous years records.

What Does All Of This Mean?

More people are online searching for homes, mortgage applications up and the inflation is coming down, so what is happening?

New listings that are priced right are back to getting multiple offers and selling fast.

It looks like buyers are getting off the sidelines and demand is making a come back!

This week is expected to have the ideal balance of favorable conditions for sellers so if you are thinking of selling your home give me a call to see if it is the right time for you to list. 561.389.2082