The musical score for our current real estate market might sound familiar, since we’ve been hearing the same tune for a while now.
Affordability of a home purchase is high and inventory levels are low, low, low.
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Thanks to growing consumer demand and low mortgage interest rates the inventory levels continue to dominate the news and trends in our real estate market. While many geographical markets have seen a slight increase of inventory, believed to be due more to the normal increase of the summer selling season, levels are still quite a bit below what is considered normal.
With all the traditions and activities that surround the 4th of July, one staple that remains each and every year is FOOD! From family recipes to personal favorites, you can't experience a true 4th of July celebration without an assortment of delicious meals and treats. I love food so I though I would share a few recipes that I hope to see at this year's get togethers.
If you want to know whether this year is going to be good for buyers or sellers or both we need to look at several factors. First, looking at the housing market we see a recent uptick in mortgage rates. Second, we are seeing home prices move upwards and third, low inventory does not appear to be changing anytime soon. This has made buying a home slightly less affordable than it was a couple of years ago, but that doesn’t seem to be stopping the flood of buyers in the marketplace.