Hello everybody! Welcome back to Suburban Snacks, where we not only inform you of current Real Estate topics but also review a different food item every month! This month’s snack is… protein chips! Before we review the snack, we’ll be informing you on whether or not sellers are rushing to sell their homes before the market slows! I don’t think that it’s any surprise that home sellers are increasingly concerned that they could miss out on the buyer frenzy. Signs of a slowing real estate market are growing across the country. The inventory of homes for sale rose 9% last week compared to a year ago, according to Realtor.com®. New listings are rising nearly twice as fast in the past four weeks as they did a year ago. Now, take note that these numbers are national and each submarket may have different statistics. For instance, as of the filming of this video, there are currently only 40 homes for sale in Rancho Sahuarita and 25 of them are new construction. Daryl Fairweather, Redfin’s chief economist, told CNBC, “Rising mortgage rates have caused the housing market to shift, and now home sellers are in a hurry to find a buyer before demand weakens further,”. According to the National Association of Realtors, pending home sales fell for the sixth consecutive month in April and are now at the slowest pace in nearly 10 years. Home sellers are also seeing less competition from buyers. A Redfin index that measures buyer demand based on requests for home tours was down 8% annually for the week ending May 15. This is the largest decline since April 2020, when the pandemic put everything on pause. As I mentioned before, we in Southern Arizona are still experiencing a very HOT market. So if you are a seller who wants to learn more about their home value then we at Suburban would love to help! Do you like protein chips? Let us know in the comments below. That’s going to do it for us here at Suburban Snacks. If you have any questions or would like to get into contact with us feel free to check out our website at suburbanrealestategroup.com. Also, make sure to click the link below to follow us on Facebook. Thanks for watching, my name is John Malozsak and we will see you in the next one!
Suburban Real Estate Group2023-01-30T09:07:41-07:00June 3, 2022|Suburban Snacks|
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Suburban Real Estate Group
Our team of experienced agents have facilitated the transfer of nearly $80 Million worth of Real Estate and currently manage over $30 Million worth of rental properties. By using the latest technology available in the industry, combined with their family values, buyers, sellers, and property owners can rest assured that their best interest is Suburban’s number one priority.
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