Total new listings for July fell from last month by 8.2%. The Triangle had 3.747 new listings in July. The national headlines of growing housing inventory ring true here in the Triangle as supply overall has grown, but new homes this month slowed. Total active inventory at month’s end totaled 7,194 properties which is up 1.5% from last month.
2) Average Days on Market has decreased:
Average Days on Market fell, averaging 19 days. However, many homes that are going under contract are still going under contract within the first few days. The median number of days also fell to 7. This shows that while some homes that have been on the market for a couple of weeks are finally finding their buyer – typically after a price reduction. While others are priced right, in excellent condition, and contracting quickly.
Mortgage rates have come down again. A survey of local lenders revealed that we are now seeing rates as low as 5.99% for well-qualified borrowers! This is great news for borrowers! In our opinion, any adjustments that can be made to improve housing affordability is a good one, even if it’s a modest one.
Here's what Christie & Matt had to say about working with us:
“We had an exceptional experience working with Jeremy to help find our forever home. From the start, Jeremy was incredibly knowledgeable about the housing market and guided us through every step of the process with clear and consistent communication.
He was able to help show us houses at the last minute (due to my husband’s job drastically changing), always answered his phone via texts or calls, had such a friendly, funny, and calm demeanor, and always provided detailed feedback literally about everything.
Thanks to Jeremy’s expertise, we were able to find our home rather quickly, and move in shortly after that! His persistence and keen negotiation skills were key to this successful purchase, and we can’t thank him enough.
I HIGHLY recommend Jeremy to anyone looking to buy a home. He made this process seamless and stress-free!!!.”
Not every Real Estate transaction is without it's hiccups…
but it's our job to minimize the impact that they have on you to keep your stress low and the overall process seamless!
If you're thinking of making a move - this is your sign! Give us a call to get started.
Thank you for your support of Kaplan & Co. Jeremy & Emily
