Persistent inflation is proving “quite harmful to the housing market,” says NAR Chief Economist Lawrence Yun. The housing market is quickly contracting as rising mortgage rates and stubbornly high inflation prompts more home buyers—and even sellers—to back away. The National Association of REALTORS®’ Pending Home Sales Index, a forward-looking indicator based on home contract signings, …
Tag: Real Estate
Jan 31
Jersey Shore Vacation Home – 7708 Pleasure Ave S. Sea Isle City, NJ. 08243
7708 Pleasure Ave S. Sea Isle City, NJ. 08243 Listing courtesy of Christopher Oliva – COMPASS RE – Ocean City $1,799,000 Est. Mortgage $10,805/mo*5 Beds4 Baths2182 Sq. Ft. Description about this home for sale at 7708 Pleasure Ave S. Sea Isle City, NJ. 08243 Welcome to 7708 Pleasure Ave (south unit), a captivating beach block …
Jan 30
Jersey Shore / Sea Isle City Home – 85 85th Street, Sea Isle City, NJ. 08243
85 85th Street, Sea Isle City, NJ. 08243 Listing courtesy of Dustin Laricks – COMPASS RE – Sic $1,599,000 Est. Mortgage $9,771/mo*4 Beds4 Baths Description about this home for sale at 85 85th Street, Sea Isle City, NJ. 08243 Welcome to your new Ocean Cove retreat at 85 85th Street, Sea Isle City. This spacious …
Jan 30
Mortgage Rates Slip After Fed Hike, But What’s Next?
Economists eye two possible scenarios: Rates could rise to 8% or higher by the end of the year, or they could stabilize. Know what to expect. Mortgage rates this week dipped slightly below 7%, even after the Federal Reserve aggressively raised its benchmark interest rate again to tame inflation. The 30-year fixed-rate mortgage averaged 6.95% …
Jan 29
Slowdown in Home Prices
The third quarter may have marked the end of price surges as higher mortgage rates put a damper on projections for property appreciation. Read more from NAR’s latest report. Home prices continued to climb in the third quarter of this year, but the upward trend may finally be coming to an end, according to the …
Jan 29
Sea Isle City / Jersey Shore Home – 133 E 37th St. E #SEA, Sea Isle City NJ. 08243
Sea Isle City / Jersey Shore Home – 133 E 37th St. E #SEA, Sea Isle City NJ. 08243 Listing courtesy of Maureen Hoey – BHHS FOX and ROACH-Sea Isle City $2,499,000 Est. Mortgage $15,188/mo*6 Beds5 Baths Description about this home for sale at Sea Isle City / Jersey Shore Home – 133 E 37th …
Jan 26
Jersey Shore / Sea Isle Home – 129 66th St. Sea Isle City, NJ. 08243
129 66th St. Sea Isle City, NJ. 08243 Listing courtesy of Annamarie Germanio – RE/MAX PREFERRED SEA ISLE $1,800,000 Est. Mortgage $10,951/mo*6 Beds5 Baths2500 Sq. Ft. Description about this home for sale at 129 66th St. Sea Isle City, NJ. 08243 The perfect location for a big family! 6 br 4.5 ba (or 5 br …
Jan 26
Stabilizing Economy Holds Key to Reviving Home Sales
October’s lower inflation rate is a welcome sign for a housing market that’s seen steady declines in 2022. A recent report showing that the rate of inflation declined in October is good news for the real estate industry, and possibly a bellwether of declining mortgage rates in coming months, Lawrence Yun, chief economist for the …
Jan 25
Hope for Turnaround After Contract Signings Fall Again
Pending home sales continued to fall in October as higher mortgage rates shook buyer confidence. Read more from NAR’s latest home sales report. Pending home sales fell for the fifth consecutive month in October as rising mortgage rates brought many housing markets to a halt. But now that rates show signs of stabilizing, economists say …
Jan 25
Delco / Broomall Home – 117 Harmil Road, Broomall, PA. 19008
117 Harmil Road, Broomall, PA. 19008 Listing courtesy of Chris Urbany – Walter M Wood Jr Inc. $425,000 Est. Mortgage $2,893/mo*3 Beds2 Baths1210 Sq. Ft. Description about this home for sale at 117 Harmil Road, Broomall, PA. 19008 Welcome to 117 Harmil Road! This charming 3-bedroom, 1.5-bathroom house is now available for sale. Situated in …
Jan 24
Sea Isle City / Jersey Shore Home – 23 38th St. #105, Sea Isle City, NJ. 08243
23 38th St. #105, Sea Isle City, NJ. 08243 Listing courtesy of Robert F. Baldini – FREDA REAL ESTATE $575,000 Est. Mortgage $3,715/mo*2 Beds1 Bath Description about this home for sale at 23 38th St. #105, Sea Isle City, NJ. 08243 Enjoy the sea breeze and sunshine from this 2 bedroom C-View1 first floor unit …
Jan 24
Real Estate Wins in Government Spending Package
The omnibus bill cleared Congress on Friday and now goes to President Joe Biden’s desk for his signature. Congress gave final approval Friday to a bipartisan bill to fund the government through Sept. 30, 2023, clearing the last major piece of legislation for the year. The bill now goes to President Joe Biden for his …
