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THIS MONTH: EPIC SUMMER BBQs AND POOLSIDE FUN!
This July, our curated content focuses on spending time by the pool and hosting Summer barbecues.
Also, if you're thinking of adding a pool and/or outdoor cooking area to your home, I include design ideas for the ultimate backyard.
In the Events section, you'll find several ways to celebrate the 4th of July including a bonsai workshop, food festivals, nature events, a community health fair, a block party, concerts, and the annual Kokomo Stroll.
ON THE REAL ESTATE FRONT
Last month, statistics for national real estate sales showed that there was a decline of 6.3% in Pending Sales. If we look at the regional data, this demonstrated that at 7.7%, they fell even lower in the South.
This month however, the current data shows that Pending Sales increased by 1.8%, and in the regional South, the increase was 1.0%. There is an energy in the market that can be felt, but mortgage interest rates still hold some buyers back.
Lawrence Yun of the National Association of Realtors describes it this way,
"The relatively subdued sales are largely due to persistently high mortgage rates. Lower interest rates will attract more buyers and sellers to the housing market."
On a positive note that considers real estate as one of your key investments, the Zillow Home Value Index identified 18 towns in Louisiana where home values have surged.
This is a great indicator for both Buyers wanting a secure investment, and Sellers wanting the best return on theirs.
Of the 18 identified towns, here are the local, the rank, and increase:
17. Folsom – 44.09% Home Price Increase Since 2012
14. Covington – 51.32% Home Price Increase Since 2012
4. Mandeville – 58.99% Home Price Increase Since 2012
1. Madisonville – 52.77% Home Price Increase Since 2012
This is incredible news for the local markets!
CURRENT MORTGAGE RATES AS OF JUNE 30:
- 30-year Fixed - 6.75% [last month 6.96% and month before that 6.86%]
- 15-year Fixed - 5.94% [last month 6.23% and month before that 6.17%]
- 30-year FHA - 6.77% [last month 6.45% and month before that 6.24%]
- 30-year Fixed V.A. - 6.84% [last month 5.87% and month before that 6.25%]
If I may help provide you with a Competitive Home Analysis [CMA], I'm only a text or phone call away - (985) 629-1705 In this manner, you may learn the value of your home.
I am also well positioned to help Buyers fulfill their Home Buying Dreams!
MARKET HIGHLIGHTS
Below, please find national real estate housing data and infographics from the National Association of Realtors. Keep reading to view the summary for the Louisiana market and in particular, St. Tammany and Tangipahoa Parishes.
We think you'll be most interested in what is happening here, but it helps to be aware of national market trends.
Please keep in mind that on the national level, data lags one month behind.
National Snapshot for the Month of May:
- Pending Sales - increased 1.8% month-over-month [while in the regional South they increased 1.0%]
- Existing Home Sales - increased by 0.8% - month over month
- Home Prices - increased 1.3% - year over year
Ongoing Challenges:
- Fluctuating Interest Rates
- Economic Uncertainty
The month of May continued to trend toward a Buyer's Market with 4.6 months of Inventory.
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