Real Estate Market Update June 2024 | 📈 Market Trends & Tips for Buyers & Sellers
June 2023 Real Estate Update: Houston Market Trends – Mortgage Rates, Home Inventory & Price Cuts
📉 In today’s NATIONAL market update as of June 3rd:
• Mortgage applications have decreased by 5.7% from last week, potentially signaling a market slowdown 📉 (Source: MBA).
• The inventory of homes has increased to 595,000 nationwide, a 3% increase from last week and a significant 37% from last year 🏡 (Source: ALTOS).
• Price reductions are now at 34.8% of active listings, climbing by 0.4% from last week 💸 (Source: ALTOS).
• Mortgage rates are holding steady at an average of 7.2% for a 30-year fixed mortgage 📊 (Source: MORTGAGE NEWS DAILY).
👀 For buyers: Now might be the perfect time to snag a fantastic deal with more homes on the market and prices dropping! 🛍️
🏠 For sellers: As market values tend to peak around June or July, it’s crucial to price your home correctly and consider offering incentives, especially with the market softening 📉.
💼 For investors: With a shift in affordability, expect a strong demand for long-term rentals. Adjust your strategies accordingly! 📈
🔗 For more detailed insights and personalized advice, visit HoustonSuburb.com!
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**Jennifer Yoingco is a full-time licensed Houston Texas REALTOR (#648293) with Walzel Properties, LLC. She has been helping first-time homebuyers, experienced buyers and sellers search homes for sale, houses for sale in the greater Houston area (serving Houston, Tomball, Spring, The Woodlands, Cypress, Conroe, Magnolia, Sugarland, Richmond, and the surrounding cities). She negotiates to the clients’ advantage by using cutting-edge digital marketing technology. She is teamed with marketing professionals who can showcase the home to the best advantage. Contact her (@ Jennifer Yoingco, Your Living in Houston Texas Realtor!) for any real estate needs. Email: JenYoingco7@gmail.com (832)286-8636**
