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…pelon mini! Before we review the snack, we’ll be informing you on how consumer confidence in the housing market has hit the lowest point in over a decade! According to a monthly Fannie Mae survey, just 17% of those surveyed in July said now is a good time to buy a home, down from 20% in June. Even more telling, however, is that the share of sellers who think it’s a good time to list their homes dropped to 67% in July from 76% two months prior. Far fewer consumers now think home prices will rise, while the share of those who think prices will fall jumped from 27% to 30%. Fannie Mae’s Home Purchase Sentiment Index consists of six components: buying conditions, selling conditions, home price outlook, mortgage rate outlook, job loss concern and change in household income. Overall, the index fell two points in July to 62.8. And it’s down 13 points from a year earlier. So it’s obvious that consumers are a little weary when it comes to the current housing market. But what are we seeing here in Sahuarita? As of the filming of this video, there are only 64 homes for sale within Rancho Sahuarita and 25 of them are new construction. This is a slight uptick in inventory from what we’ve been experiencing in the past several months. However, it’s still considered very low inventory and as we know, with little inventory comes high demand. With the low inventory, we are also experiencing longer days on market. The average home tends to be on market from anywhere between a week to about a month. This is a sign that we’re coming back into a much more buyer-friendly market. So, if you are someone looking to invest in a home in Southern Arizona then we at Suburban would love to help! Do you like…pelon mini? 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, click the link below to follow us on Facebook. Thanks for watching, my name is Cade Olof and we will see you in the next one!
Suburban Real Estate Group2023-01-30T08:59:04-07:00August 19, 2022|Suburban Snacks|
Share This Story, Choose Your Platform!
About the Author
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.
What Is the Future of Real Estate?
February 24, 2023