The end of 2023 has brought the first hints of a softening of the housing market that could awaken buyer demand and entice more home owners to list their properties for sale. The average rate for the 30-year fixed mortgage fell again this week to 6.61%, now down more than a full point from 7.79% […]
In the spirit of holiday giving, Greg Englesbe Real Estate donated toys and resources at an event benefitting Marine Toys for Tots and Admirals Cove Foundation. “I was honored to support these two special organizations that bring smiles to children’s faces and strengthen our community,” said Englesbe. “When communities come together, we can make a […]
People interested in buying homes in the U.S. continue to see affordability erode in a market that has made ownership prohibitively expensive for the average American. The median U.S. home price stood at $420,000 in November, down a bit from $425,0000 in October but up about 1% from last November. The real challenge for buyers […]
High mortgage rates continue to result in slumping U.S. home sales, which fell another 4.1% in October and hit an annualized rate of 3.79 million units. The latest data from the National Association of Realtors show that the annualized rate is 14.6% lower than last year and comes up short of the 3.90 million units […]
The home affordability challenges facing a generation of Millennials are reminiscent of certain circumstances their Baby Boomer parents encountered in the 1980’s, according to some economists observing the current market. With 30-year fixed mortgage rates up around 8% and home prices kept high by tight supply, sales activity has hit a wall during the second […]
The arts are meant to enrich our lives by fostering creativity, self-expression, and deeper understanding of the human experience. They provide us with a unique lens through which we can explore diverse cultures and emotions, ultimately connecting us on a profound level. In order for the next generation to captivate us with their expressions, it’s important […]
High mortgage rates and high home prices have dragged down sales activity in the U.S. housing market to a pace not seen since the years after the 2008 recession and housing bust. Recent data from real estate brokerage Redfin estimates that sales of existing homes in the U.S. could top out around 4.1 million in […]
The total value of the U.S. housing market has grown by an astonishing 49% since before the COVID-19 pandemic. This has been led by a surge in new home construction alongside already tight home supply and increased competition that has increased the value of the average U.S. home. But not all of this growth in […]
The U.S. Federal Reserve signaled this week that it will pause further increases to the nation’s benchmark interest rate, ending a historic run of hikes intended to curb inflation and prevent a recession. The central bank’s latest approach comes after a review of new economic projections that anticipate stronger growth by year’s end and a […]
For most of this year, the U.S. housing market has been in a holding pattern. High mortgage rates and home prices are putting off many would-be buyers who feel the value proposition is out of balance for them. At the same time, would-be sellers realize that they’ll be facing the same market on the other […]
