The national sales of pre-owned homes have recently experienced a decline, reaching the lowest point in seven months. This can be attributed to the significant increase in borrowing costs, the rise in sales prices, and the limited availability of homes for sale.
30-Year Mortgage Rate Increase to 7.09%. The average long-term mortgage rate rose last week to its highest it has been in 20+ years. This is the fourth straight week increase for the average rate and the highest since April, 2002 where the average was 7.1%.
Residential Housing Statistics & Real Estate Trends -April 2023
Residential Real Estate Update The real estate market in Perrysburg and the surrounding areas continue to be a tough market for buyers of residential real estate. For example, today the inventory of available single family and condo/villa properties in Perrysburg is around 60 units. On a bigger scale, for Lucas County that…
Check out Kerber’s listings available for March 2023. New real estate data. What to expect in Spring 2023 local real estate market?
Northwest Ohio Summer 2022 Residential Housing Market Update Residential real estate buyers in Northwest Ohio have been waiting for the prices and demand to go down to a normal level. Will relief be on the way in time for summer? Higher mortgage rates will…
Mortgage rates rise to highest point since 2009 Mortgage rates increased today by the Federal Reserve. The most aggressive rate hike since 2000. The national average interest on a 30-year fixed-rate mortgage is 5.27% today, up from 5.1% last week and up from 2.9% one…
Residential Sale Prices Up Nearly 24% Northwest Ohio home sales In March 2022 totaled 781, down from the 841 sales recorded in March 2021 or 7.1%. The total dollar volume in March 2022 was $145,224,885, down from $157,745,316 in March 2021 (or 7.9% decrease). New…
Are you waiting until April or May to list your home? You may want to reconsider because it may not be the best time to sell your home. Buyers in the winter months including March need housing and fast! With other sellers waiting until spring…
“The number of residential real estate units sold in 2021 decreased while the dollar volume and average sales price had a significant increase. It is expected that 2022 will remain favorable for sellers, but appreciation is expected to be slower. This could be good news…