This year, we saw a lot of social media posts and heard plenty of jokes about “Maycember”, which is a term that compares the chaos of May to the holiday frenzy of December. With school wrapping up, graduation parties, sports seasons ending, and more, you don’t need to be a parent of school-aged kids to feel overwhelmed!
Now that May is behind us, we wanted to touch on a question we hear at almost every social gathering:
“How’s business? How’s the real estate market?”
First of all—business is great. A sincere thank you to my clients, friends, and family who continue to support us. Whether you’re referring business, commenting on social media, or just cheering us on, please know how much we appreciate you. It’s the people who make us love what we do.
Second—the real estate market is moving!
Last week, mortgage rates dipped slightly after three weeks of increases. At the same time, new home sales surged unexpectedly, and unemployment claims declined.
Buyers are certainly paying attention to the economic headlines, but they aren’t backing down. In fact, mortgage applications are up 2% and 18% higher than they were this time last year, according to CNBC.
In April, new home sales hit a three-year high, with 743,000 units sold—far exceeding expectations. Builder incentives like rate buydowns and price reductions helped bring hesitant buyers back into the market. Plus, there is something so appealing about a brand new home and fresh paint! By the way, we can help you buy a new home!
We’re also seeing a steady rise in new listings, giving buyers more options and breathing room in the market. What do REALTORS think is next?
About 1 in 4 expect sales to increase
About 1 in 10 expect prices to rise
Nearly half believe listings will continue to go up
So, is it a good time to buy?
Is it a good time to sell?
The real answer depends on you. Your goals, your timeline, and your lifestyle matter most in making that decision.
If you’re thinking about making a move or just want to chat about what’s happening in your neighborhood: We’re here and happy to help.
Wishing you a wonderful start to summer,
