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Real Estate: July National Market Update

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Real Estate July

Will I Be Able to Afford to Buy A Home?

July is here and so are your plans for buying or selling real estate this summer. But is it a good idea? Let’s see what experts have to say about how the market looks and where it’’s going.

Hey, it’s your favorite bearded realtor, Eren Millam with Premiere Property Group, and I want to help guide you toward the best decision for your family and your biggest asset, your home. 

Mortgage Rates

Looking at mortgage rates, Sam Khater, Chief Economist with Freddie Mac, says,

“Mortgage rates continue to inch downward this week, but are still significantly higher than last year, affecting affordability and purchase demand. Heading into the summer, the potential homebuyer pool has shrunk and supply is on the rise and the housing market is normalizing.”

After the way the market has looked the last couple of years, this is welcomed relief to many. With less buyers and more sellers out there, there is hope out there for the buyers that are staying in the market. In addition to this, data from Freddie Mac suggests that mortgage rates have hit a plateau in the last 6 weeks, giving even more hope to buyers that fewer people will see themselves being priced out of the current market.

That’s where we are at right now, keep coming back as we break down the market even further! Again, I’m Eren Millam with Premiere Property Group here to help with your home buying and selling needs. And remember, Extraordinary Service delivers Extraordinary Results.

If you’re thinking of buying or selling your home in the west Lewis County area, contact me today! I’d love to hear from you! Eren Millam – Managing Broker Premiere Property Group, LLC WA License No. 26933

Chehalis, WA 98532 | Centralia, WA 98531

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