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‘The pandemic boom in home sales is over’: Mortgage rates soar to highest level since 2009


hegemony
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This only makes sense ... still:

 

A home near us sold Monday last week for 10% above a reasonably aggressive ask. 

 

We have a lot of challenges on our plate still, but I'm about to light a fire to accelerate our path to getting on the market.  If we can sell at 10% less than the price target suggested by our realtor May 1, reflecting the pricing of new listings coming on market along with recent sales, we'll be selling at 35% more than targeted at the time we purchased our new MA home Dec 2019.

 

Nonetheless, anyone who started out shopping with a 3% rate in mind and now is looking at something close to 5% is likely forced to cut back their shopping budget.

 

 

 

 

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Rates are at a 2-week low now, even with today's higher than expected inflation figures.  Probably has more to do with the sell off in stocks.  

 

Some interesting data points about the Sacramento market have been posted to an appraiser's blog at https://sacramentoappraisalblog.com/2022/05/11/the-housing-market-has-shifted/.

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