WHAT'S THE REAL-TEA?

What’s Up with Real Estate? National news and local views for the week ending Friday, December 27, 2024 Andelina "Andie" Katz Happy Holidays! This week, inflation edges up slightly, mortgage rates dip below 6.7%, and the local market in Stroudsburg holds steady. Whether you're buying or selling, there's still time to make your real estate dreams come true before the new year! National Real Estate News Inflation gets stuck The November CPI (Consumer Price Index = inflation for you and me) was the last major piece of economic data before the Federal Reserve makes their next interest rate decision on December 18. Both "headline" and "core" (stripping out food & fuel) CPI rose by 0.3% month-over-month in November, which lifted "headline" annual CPI from +2.6% YoY --> 2.7% YoY, while "core" annual CPI was stuck at +3.3% YoY. [Source: BLS] A little lower Having jumped 100 basis points (1%) between the Fed's first rate cut on Sept 18 and the US Presidential Election on Nov 5, average 30-yr mortgage rates have been drifting lower recently, briefly moving below 6.7% last week. Looking at transaction volumes over the last two years, the magic number seems to be 6.5%. Below that level, buyer (and seller) activity picks up markedly. [Source: Mortgage News Daily] What's on your wishlist? If you've been dreaming of celebrating the holidays in a new home, you don't have to wait until spring. The weather outside may be frightful, but that can make the competitive environment delightful (more homes for sale and fewer buyers)! Give yourself the gift that keeps on giving: comfort, security, family memories, and wealth creation too! Happy Holidays! Local Market Trends As of Friday, December 27, 2024 Here you can enhance your area’s housing market data with your own insights and commentary! Area Median Price Active Listings New Listings - 5 days Median Days on Market Stroudsburg, PA $429,000 0% 45 -0.1% 1 76 0.4% Tobyhanna, PA $295,000 0% 148 -0.2% 2 97 0.2% East Stroudsburg, PA $399,950 0% 104 0.6% 6 67 0.2% Local Market Trends (/) from Nov. to Dec. 2024.     Andelina "Andie" Katz REAL of Pennsylvania License #AB069370 Questions about these articles or the state of your local market? Get in touch! 570-775-5177andiekatzrealtor@gmail.com ©ListReports 2024, all rights reserved. This information is from third-party sources and its accuracy cannot be guaranteed.