Closed sales continued their YoY downward trend while new listings continued their YoY upward trend in Manatee in May. That is good news in terms of balancing the market. We still have significantly less inventory than we need to support the current sales volume, but the market is moving giving buyers some leverage.
It looks like we are heading back to a market where sellers will benefit more from forethought in home improvements before selling. Here are some thoughts on appliances in the infographic below.
Mortgage rates surged to their highest level since 2008 after the Fed’s rate hike. According to Freddie Mac, the 30-year fixed mortgage rate rose to 5.78% from 5.23% the previous week. In addition to increasing the amount buyers will pay to borrow for their mortgage, higher interest rates lower their purchasing power.
Increase the appeal and value of your property by planting some of the trees identified in the graphic below.
To our clients in Esplanade. They are in contract to sell their home.
