Mortgage rates headed up… Sacramento buyers: Hurry!
June 30th, 2008 Categories: Mortgage and Loans, Real Estate News, Real Estate Trends, Sacramento Home Buyers, Sacramento Sellers
Asset managers and Homeowners have finally dropped prices enough to stimulate buyers interest here in the Sacramento area. But in order to do it, median price of an existing, single-family home in Greater Sacramento declined to $233,230 in May, a 34.5 percent fall from a year earlier. The California Association of Realtors reported a 18.1 percent increase in sales last month.
For the first time in 30 months we had a year over year increase in number of homes sold.
Now or newest alarm is on mortgage rates… As if we needed more to challenge our housing market.
Bloomberg says:Homes Less Affordable as Prices Fall, Rates Rise.
We all knew it would happen sometime…
