Monthly news & updates

August 2022 | Volume IX, Issue 8

Take Advantage of Housing Market Moderation

As rates rise, home price appreciation is moderating, a comfort to homebuyers. According to Black Knight's latest Mortgage Monitor report, June was the third consecutive month that saw the price growth rate decelerate, another sign that high prices and rising rates are moderating.

Inventory is recovering. Another encouraging sign for would-be buyers, June's plummet in price growth coincided with the largest single-month increase of inventory in 12 years. Even with June's record supply jump, inventory remains about 54% below historical norms.


Less competition makes it a great time to buy. According to Redfin data, 49.9% of home offers faced competition on a seasonally adjusted basis in June. That’s the lowest share since May 2020 and the first time the bidding-war rate has been below 50% since that same month, when the housing market was at a near standstill due to the onset of the pandemic.


Act now while mortgage rates remain low. Rates remain low when compared to historical standards and recently fell below 5%. Lock in your rate now to keep your mortgage payment at a level you can afford.


Well-prepared homebuyers can take advantage of today's market conditions. Turn to the experts at National Iron Bank to get pre-approved and negotiate with confidence. Click here to learn more!


Excerpt from Forbes

National Iron Bank | IronBank.com

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