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Market Update | Hutch & Howard - Your Real Estate Experts - Blog

Thursday, July 25, 2024   /   by Arial Davis

Why Mortgage Rates Might Decrease Slightly in the Coming Months and How to Prepare to Buy

As we move through the latter half of 2024, the real estate market is abuzz with speculation about mortgage interest rates. There are strong indications that mortgage rates might decrease slightly in the next few months, creating an excellent opportunity for prospective homebuyers to enter the market. Here’s a detailed look at why rates are expected to dip and how you can prepare to take advantage of this potential decrease.

Factors Indicating a Potential Decrease in Mortgage Rates



Stabilizing Inflation: Inflation has been a major concern over the past few years, but recent data suggests that inflation is starting to stabilize. As inflationary pressures ease, the Federal Reserve may be less inclined to increase interest rates further, which can lead to a slight decrease in mortgage rates.




Federal Reserve Policies: The Federal Reserve has been cautious with its monetary policies, aiming to balance economic growth and inflation control. Recent statements from the. ...

  housing market, buying, financing, home loans, market update, mortgage

Tuesday, January 23, 2024   /   by Meghan McDowell

December 2023 - National Market Update

Key Highlights
Existing-home sales waned 1.0% in December to a seasonally adjusted annual rate of 3.78 million. Sales faded 6.2% from the previous year. The median existing-home sales price rose 4.4% from December 2022 to $382,600 – the sixth consecutive month of year-over-year price increases.
On an annual basis, existing-home sales (4.09 million) fell to the lowest level in nearly 30 years, while the median price reached a record high of $389,800 in 2023.
The inventory of unsold existing homes slumped 11.5% from the previous month to 1 million at the end of December, or the equivalent of 3.2 months' supply at the current monthly sales pace.
WASHINGTON (January 19, 2024) – Existing-home sales retreated in December, according to the National Association of REALTORS®. Among the four major U.S. regions, sales slipped in the Midwest and South, rose in the West and were unchanged in the Northeast. All four regions experienced year-over-year sales decreases.
On an annua ...

  housing market, market update, median sales price

Keller Williams | Hutch & Howard
11400 Parkside Drive, Suite 120
Knoxville, TN 37934
865-966-5005

The data relating to real estate for sale on this Web Site comes from the IDX Program of the East Tennessee REALTORS® Multiple Listing Service. © Copyright 2024. All rights reserved. This information is being provided for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumers may be interested in purchasing. This information is updated weekly, however, some of these properties may subsequently have sold and may no longer be available. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision.
Information is provided exclusively for consumers’ personal use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS. Last updated November 13, 2024 Copyright © 2024
Information is provided exclusively for consumers’ personal use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS. Copyright 2024 Great Smoky Mountains Association of REALTORS®. All rights reserved. Data last updated November 13, 2024
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