News

Housing Supply Overview This month the Federal Reserve voted to leave its key benchmark rate unchanged, which was widely expected. While the rate decisions by the Federal Reserve do not directly affect mortgage rates, Federal Reserve policy does affect the economic markets overall. Mortgage rates ended the year close to three-quarters of a percent lower… Read more »

Monthly Indicators In October, mortgage rates increased slightly from the three-year lows seen in September. While the Federal Reserve reduced the federal-funds target rate by .25%, this decline was widely expected and largely factored into mortgage rates already, which are still approximately 1% lower than this time last year. Fannie Mae is predicting that continued… Read more »

Housing Supply Overview As we move into the final months of 2019, buyers will find fewer homes coming on the market, but also less competition for those homes. The real estate market this fall is looking healthy. With a strong economy and great mortgage rates, there is a lot to remain optimistic about. For the… Read more »

Housing Supply Overview For the 12-month period spanning September 2018 through August 2019, Pending Sales in the Western Upstate region were down 0.3 percent overall. The price range with the largest gain in sales was the $200,001 to $300,000 range, where they increased 14.0 percent. The overall Median Sales Price was up 4.7 percent to… Read more »

Housing Supply Overview For the 12-month period spanning August 2018 through July 2019, Pending Sales in the Western Upstate region were down 1.3 percent overall. The price range with the largest gain in sales was the $200,001 to $300,000 range, where they increased 10.5 percent. The overall Median Sales Price was up 3.3 percent to… Read more »

Housing Supply Overview After several years of declining inventory and supply, more and more housing markets are beginning to find their way toward a state of balance in terms of available listings. There is still work to be done, but the situation is not as dire as it once was. For the 12-month period spanning… Read more »

Housing Supply Overview In general, there are still fewer homes for sale at the lower end of the price spectrum, which has unsurprisingly translated into fewer sales at that end of the market. Meanwhile, inventory is rising along with sales in the upper price tiers. For the 12-month period spanning June 2018 through May 2019,… Read more »

Housing Supply Overview Months of supply are beginning to rise as unaffordable-to-most listings begin to enter the market with more regularity. Sales have actually been steady in higher price ranges, while first-time buyer markets are extremely competitive. For the 12-month period spanning May 2018 through April 2019, Pending Sales in the Western Upstate region were… Read more »

Housing Supply Overview Housing supply has continued to struggle to replenish itself in most markets across the U.S., which is contributing to an overall decline in sales. Yet low inventory is not the only slowing factor in a buying environment with historically high prices. For the 12-month period spanning April 2018 through March 2019, Pending Sales in the Western Upstate… Read more »