Realty World - Sierra PropertiesLicense #: 00319644

Realty World - Sierra PropertiesLicense #: 00319644

Realty World - Sierra Properties's blog

Patio Heaters Are the 'New Toilet Paper'

Fast Company is calling patio propane heaters the “new toilet paper” of pandemic sales. That’s because heaters are flying off store shelves at record speeds as homeowners look to extend their outdoor spaces amid cooler weather in many locales.

Mortgage Rates Hit Record Low—Again!

The 30-year fixed-rate mortgage hit its 11th record of the year this week, averaging 2.80%—the lowest rate ever recorded by Freddie Mac.

Homebuilding Is Booming, But Is It Enough?

As October began, homebuilding starts were up more than 8% compared to a year ago. But that increase in new homes on the market is still not enough to meet demand, says Lawrence Yun, chief economist of the National Association of REALTORS®. Housing starts in September were at a 1.42-million-unit production level on an annualized basis, but Yun says the annualized number of permits, 1.55 million homes, will better meet housing demand. Permits are considered to be a leading sign of the number of starts.

Inventory Uptick Signals More Confident Sellers

Inventory Uptick Signals More Confident Sellers

More homes are gradually coming onto the market in a hopeful sign that homeowners may finally be warming up to the idea of selling, according to data from realtor.com®’s latest Weekly Housing Report. An incremental uptick in available inventory is welcome news to home buyers struggling to find a property to purchase. Last week, homes sold a full two weeks faster than the same time period a year ago and were listed for an average of $38,000 more, realtor.com®’s report shows.

Mortgage Rates Set 'Record Low' for 10th Time

Mortgage rates fell slightly this week, setting a new record low for the 10th time this year, Freddie Mac reports. The 30-year fixed-rate mortgage averaged 2.81%, the lowest rate since Freddie Mac began tracking such data in 1971. The previous all-time low, an average of 2.86%, was set in mid-September.

Interest in Vacation Homes Continues to Surge

The pandemic has made Americans more interested in buying a second home. Online search traffic for vacation homes has reached a five-year high, according to a recent analysis by Point2Homes.com. We have found requests for houses for sale in our Sierra Foothills has really increased.

Record-High Lumber Costs Drive Up New-Home Prices

Shoppers seeking newly constructed homes are facing sharply increased prices as the cost of lumber has soared to record highs. Many buyers are finding themselves priced out of the new-home market, builders say.

Recent price spikes in lumber have added more than $16,000 to the typical cost of a new single-family home. The multifamily sector is also feeling the impact, with the typical apartment seeing an increase of more than $6,000, according to data from the National Association of Home Builders.

Home Loan Rates Are Sinking Close to All-Time Lows

The low rates are turning into a boon for the housing market. The National Association of REALTORS® reported this week that housing contract signings in August jumped 24% year over year. Pending home sales are exceeding pre-pandemic levels, with all four major regions of the U.S. posting higher sales activity.

Mortgage Rates Edge Up, Still Near Record Lows

Mortgage rates ticked up this week but still remain under a 3% average and near historical lows. Freddie Mac reported the 30-year fixed-rate mortgage averaged 2.90% this week. The all-time low for rates was set in mid-September, averaging 2.86%.

Mortgage Rates Edge Up, Still Near Record Lows

Mortgage rates ticked up this week but still remain under a 3% average and near historical lows. Freddie Mac reported the 30-year fixed-rate mortgage averaged 2.90% this week. The all-time low for rates was set in mid-September, averaging 2.86%.

Syndicate content

Have Questions?