REAL ESTATE MARKET NEWS

The real estate market is currently stable, with normal seasonal fluctuations and trends emerging. Pending home sales have slightly declined from last year’s peak, but demand remains strong as new listings match sales. While mortgage rates have leveled at around 7%, they are trending downward, offering a positive outlook. Concerns about a 2008-style crash are unfounded, as stricter lending practices and low foreclosure rates indicate a more resilient market. Price reductions are typical and largely influenced by interest rates, not a decline in value. With increasing new construction and potential rate decreases, the market is positioned for growth in the coming months.

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