REAL ESTATE MARKET UPDATE August 3, 2024 | Market Trends & Tips for Buyers & Sellers | #shorts #fyp

Jennifer Yoingco
Jennifer Yoingco
Published on August 4, 2024

🏡 Real Estate Market Update 🏡

🚨 Here’s what you need to know this week:

📉 Mortgage applications are down by 2.2%, while inventory rose to 677K homes!
🏠 Price reductions now affect 39% of active listings, with rates holding steady at 6.9%.
📊 Buyers: FNMA predicts a slight rate drop & a 6.6% increase in home values for 2024. Be cautious about waiting!
💸 Sellers: Act fast! Home prices have peaked, and price decreases are climbing. Use financing incentives to attract buyers.
💼 Investors: With the Housing-Cost-to-Income Ratio over 43%, there’s strong rental growth potential.

👉 Stay ahead of the curve with these market trends!

🔑 Ready to buy or sell? Contact me today!

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