REAL ESTATE MARKET UPDATE August 23, 2024 | Market Trends & Tips for Buyers & Sellers | #shorts #fyp

Jennifer Yoingco
Jennifer Yoingco
Published on August 23, 2024

🔔 Quick Real Estate Market Update! 🏡✨

📈 Mortgage applications jumped by 16.8%, signaling intense buyer competition! Inventory is now at 693,000 homes—up 40% from last year. Price reductions are at 39.4% of active listings, and this trend may hit 40% this fall. Mortgage rates slightly increased to 6.6%. 📊

For Buyers: 🔑 Buyer activity is up 20% from last month! With competition rising, now is the perfect time to lock in your rate and maximize your buying power! 💪

For Sellers: 📢 Sellers, consider a temporary buydown to attract buyers in this competitive market. As inventory grows, creating demand is key! 🌟

For Investors: 💼 Single-family homes converted to rentals within six months have surged by 390% since 2020—don’t miss out on this rental market opportunity! 🚀

👉 If you’re looking to buy, sell, or invest—whether locally or relocating—let’s connect!

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