June Market Report
๐๐ฎ๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ | Year Over Year Change
Central Corridor
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Median Selling Price - $652,958 | +4.2%
Median Price per/Sqft. $252 | +6.8%
Homes Sold - 240 | -13%
Average % of List Price Paid 101.7.% | +1.7%
Median Days on Market - 6 | -25%
Months Supply - 1.7 | -19%
Active Listings 331 | -26%
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๐๐ก๐๐ญ ๐๐๐ฉ๐ฉ๐๐ง๐๐ ๐ญ๐จ ๐๐จ๐ซ๐ญ๐ ๐๐ ๐ ๐๐๐ญ๐๐ฌ ๐๐๐ฌ๐ญ ๐๐๐๐ค:
โThe Freddie Mac fixed rate for a 30-year loan took a sharp drop last week, falling to 5.30% and offsetting some of the significant rate increases of May and June amid rising recession concerns. The 40 basis point fall from last week comes on the heels of the recent volatility in the 10-year Treasury yield, which dropped below 2.8% in the first week of July and rebounded to 2.9% after spending most of June above 3%. Continued fears of a bear market have driven investors into safer, longer-term bonds, driving up the price of the 10-year note and pushing its yield below that of the 2-year Treasury. Economists and policy makers will watch closely to see whether these market conditions will lead to increases in the unemployment rate or decreases in production that characterize a recession. โ
-Joel Berner/Senior Economist NAR
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๐๐ก๐๐ญ ๐ข๐ญ ๐๐๐๐ง๐ฌ: Prospective homebuyers who have been waiting through 24 consecutive months of year-over-year listing price growth of more than 8.5% may be well-positioned to make a purchase soon if current trends continue.
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