Robert Woehrle ...
Robert Woehrle ...
REAL ESTATE UPDATE

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REAL ESTATE UPDATES

Here's the latest news and headlines on property investments, housing, mortgages, refinancing, and real estate markets. 

December 2022 brought 4.02 million in sales, a median sales price of $366,900, and 2.9 months of inventory. The median sales price is up 2.3% year-over-year, and inventory was up 1.7 months from December 2021.




 


Think twice before waiting for 3% rates
Lower inflation portends further slide in mortgage rates
     





  First-time homebuyers face 3 uphill battles-but help is on the way, according to Zillow's chief economist
  First-time buyers' rent payment history doesn't count. One has to get in debt to build credit history. And no one knows about down payment assistance.
 
 
 
 
 
  Housing expert: ‘Sellers are absolutely having to negotiate’
  Sellers are offering more concessions as buyer demand wanes.
 








KEY HIGHLIGHTS
       
 -   First-time buyers represented 31% of buyers, up from 28% one month ago and about the same as one year ago.
 -   28% of buyers were all-cash sales, nearly unchanged from 26% last month and up from 23% in December 2021.  
 -   57% of respondents reported properties sold in less than one month. This is down from 61% a month ago and 79% in December 2021.  
 -   Homes listed received an average of 2.2 offers, nearly flat from November 2022 when it was 2.3 and down from 3.8 in December 2021.  
       






 

"While mortgage market activity has significantly shrunk over the last year, inflationary pressures are easing and should lead to lower mortgage rates in 2023."

- Sam Khater, Chief Economist at Freddie Mac


 





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Robert Woehrle ... 
4152879100 eee
robert33@woehrle.com
eee2

         



       


                   

   



 
Robert Woehrle ... 
4152879100 eee
robert33@woehrle.com
eee2




   



   



 
Robert Woehrle ... 
4152879100 eee
robert33@woehrle.com
eee2