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ON THE REAL ESTATE FRONT
For the eighth consecutive month, "housing affordability has been improving and consumers are responding" as per Dr. Lawrence Yun, Chief Economist of the National Association of Realtor [NAR],
For homeowners considering a move, Spring is one of the most dynamic times in the market. Buyers are energized, inventory begins to grow, and homes that feel bright, welcoming, and well cared for tend to stand out.
For sellers, investing a little time in your home’s presentation prior to listing can truly pay off.
There is no time like the Spring Market to list and showcase your home.
If you’re curious about your Home’s value or looking for personalized ideas to enhance your space, I’m always here to help.
So whether you’re staying, selling, or simply refreshing your space, the Spring season is about possibility!
CURRENT MORTGAGE RATES AS OF APRIL 3:
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30-year Fixed 6.25 - 6.50 % with no discount points [last month 6.125-6.4%, month prior 5.97%]
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30-year Fixed F.H.A. 5.75 - 5.99 % with no discount points [last month 5:75%, month prior 5.54%]
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30-year Fixed V.A. 5.75 - 5.99 % with no points [last month 4.99%]
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 February:
- Pending Sales - increased +1.8% month-over-month [while in the regional South they increased +2.7%]
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Existing Home Sales - increased by +1.7% - month over month
- Home Prices - increased +0.3% - year over year
Ongoing Challenges:
- Sellers Frozen Into Outgrown Homes Due to Low Interest Rate Lock-In
- Economic Uncertainty
- Fluctuating Mortgage Rates
The month of February continued to trend toward a Buyer's Market with 3.8 months of Inventory.
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