|
Scroll down for Halloween decor, ideas, parties, entertaining, cocktails, and even a Spotify Halloween playlist!
I also include articles on home related trends, and more.
Then in the events section, how to select which event to attend.
This month, there are so many Halloween happenings!
May you enjoy this month's articles and community events and above all, may you and your families be safe.
Now for some good real estate news!
ON THE REAL ESTATE FRONT
In the market, the most important news continues to be the decrease in mortgage interest rates.
On September 30, these were:
-
30 year fixed - 6.059% [last month : 6.3%]
-
15 year fixed - 5.211% [last month : 5.9%]
This is expected to lead to an uptick in home sales as lower mortgage rates make home buying more affordable.
Lawrence Yun, Chief Economist at the National Association of Realtors, had this to say:
“The Federal Reserve does not directly control mortgage rates, but the anticipation of more short-term interest rate cuts has pushed long-term mortgage rates down to near 6% in late September. On a typical $300,000 mortgage, that translates to approximately $300 per month in mortgage payment savings compared to a few months ago.”
Also, with more affordable rates, potential home buyers who had stopped looking, can now re-enter the marketplace. Then, added inventory offers buyers more home buying choices.
Mr. Yun had this to add for buyers in the market:
“The rise in inventory – and, more technically, the accompanying months’ supply – implies home buyers are in a much-improved position to find the right home and at more favorable prices.”
Note that with the beginning of the holiday season, now is the perfect time to search for a new house so that you may be home before Thanksgiving and of course, Christmas!
It is also a great time to list your home, so we may then work together to find you a new one.
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 AUGUST
- Pending Sales - increased by 0.6% month over month [while in the regional South they increased by 0.1%]
- Existing Home Sales - decreased by 2.5% - month over month
- Home Prices - increased 3.1% - year over year
Challenges:
Nationally, the month of August continued to trend toward a Sellers Market with 4.2 months of Inventory.
| 
