REAL ESTATE UPDATES


		Robert Woehrle ... REAL ESTATE UPDATE

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

12766 Mockingbird Lane

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THE BENEFITS OF BEING CREATIVE AT HOME

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You may have thought that New Year’s was only celebrated on January 1, but in other cultures, New Year’s actually doesn’t take place until much later. It’s referred to as Lunar New Year and is one of the most important Asian holidays of each year.

HOBBIES TO TRY THAT WON'T BREAK THE BANK

Hobbies are the perfect antidote for the boredom blahs and are also good for your wellbeing. Research has shown engaging in leisure activities is associated with less stress, greater positive mood, and improved health.

RESOLUTIONS TO KEEP YOUR HOME VALUE UP

January is the perfect time for a fresh start. It's a fitting occasion to take stock of the improvements on or repairs to your home or condo you made last year, and the things that were on your to-do list that never got done.

Robert Woehrle ...

415-287-9100 sdddd t w

robert@woehrle.com

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