Market Update 4.19.22
Small cracks in the housing market are beginning to appear as Steven Thomas reports in the latest housing report in the link. For example, the current housing inventory has increased 60% since mid-January! Demand is at the lowest level for this time of year since 2007 (excluding Pandemic years). We are also starting to see home price reductions happen...15% of active listings have reduced their list prices! Now is the time to make your move! Contact me today.
A quick glance at where we are with the market this week:
#1 - Interest Rates
Rates as of 4/18/2022
*30 year conventional mortgage average: 5.375%
*15 year conventional mortgage average: 4.625%
*Jumbo/Portfolio 30 year: 4.625%
*Jumbo/Portfolio 15 year: 4.125%
*If you wanted to buy a home for: $1,000,000
Down payment (20%): $200,000
Est. monthly mortgage payment: $5,814/month for 30 years
Est. monthly mortgage payment: $7,505/month for 15 years
Est. monthly mortgage payment: $5,447/month for Jumbo/Portfolio loan 30 year
Est. monthly mortgage payment: $7,302/month for Jumbo/Portfolio loan 15 year
Get pre-approved to be ready for the purchase process now. If you would like to speak with a mortgage lender, click reply and I will make an introduction to a lender that will best meet your lending needs.
#2 Real Estate Market Snapshot for Huntington Beach as of 4/18/2022
* There are 37 new homes on the market in the last week in Huntington Beach for a total of 115 active listings!
* 28 properties went under contract in the last week.
* Median list price is $1,269,000.
If you can't find what you are looking for or want a list from a particular city just reply and I will work with you 1 on 1 to tailor a search for you.