Hello BBBB Friend,
More good news on the interest rate front. For the third week in a row, interest rates have moved lower, with the 30-year rates indices ranging from 7.1%-7.4%. One might have anticipated that this would spark increased buying activity or generate some excitement, but it appears that new home contracts in November remained unchanged compared to October. Buyers are displaying a high degree of selectivity, and the fluctuations in interest rates are not compelling enough to motivate them to make a decision. Other factors contributing to slow sales may include low inventory levels and the annual holiday slowdown. However, if interest rates retain this trajectory, we may see a very busy spring. Here is a chart showing interest rate movement since September.
INTEREST RATE MOVEMENT FROM SEPT-NOV
Today, I am featuring four new listings. Click HERE to see price reductions, new contracts, and final sales for homes that are Still on My List. Have a great week, and, Let's look at houses or talk about selling yours! Becky
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