Summer is officially here, and there continues to be new developments in the Seacoast NH and ME real estate scene. Let’s explore the ever-changing landscape of the Seacoast’s property realm as we head into the warmer months of the year.
June’s High-End Surge and Sustained Demand
In June, high-end home sales, $1 million dollars or more, propelled the Seacoast real estate market to its strongest month so far in 2023! Even though May was a strong month, the inventory shortage continues, making the Seacoast real estate market extremely competitive.
The good news is that even with higher interest rates, it appears that the demand for Seacoast real estate remains high.
Guidance Through Competition
With years of experience in this fiercely competitive market, I’ll guide you through every step of the way. Don’t settle for anything less than success – reach out when you’re ready to make your move!
Positive Shifts: Mortgage Rates and Housing Costs
Along with high sales in June, mortgage rates fell last week, following the Federal Reserve’s decision to not raise interest rates—a much-anticipated break in the wake of 10 consecutive rate hikes over the past year.
And, housing prices have slightly decreased too, presenting a potential opportunity for home buyers.
Conclusion
Mortgage rates dropped, and home prices are down. Is this the trifecta that weary home shoppers have been waiting for? I’d say so! Send me a message if you’re ready to make a move this summer and subscribe to my newsletter for more real estate market insights!
Source: https://www.realtor.com/
