More knowledge = better decisions. Take a look at this recent existing home sales data.
EXISTING HOME SALES DATA
Below is data on *existing* homes sales only. It does not include new construction home sales. 🏡
Momentum in existing home sales over the past six months has been sluggish, well below historical averages.
Sales in the South are doing better than other regions.
Comparing August 2023 to the same month in prior years, home sales were the lowest since August 2010
New construction sales are a bright spot in the market, and are performing above existing home sales.
SHOULD YOU MOVE NOW OR WAIT?
While buyers could possibly have a lower rate in 2024, there is no guarantee rates will be lower next year. If rates do dip, there will be more buyer competition.
Buying now and refinancing later is a good strategy for buyers who want to avoid competition and potentially negotiate for closing costs and rate buy downs now.
New construction sales are a bright spot in the market, and are performing above existing home sales 💫
If you’re thinking of buying and selling, I want to help you move forward with clarity!
Reach out if you have questions!
Wendy Monday • Broker
PARKS Real Estate
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