Home Buyers Finally Catch a Break — Portia Green, REALTOR® — Cømpass

News → Buyer Relief

Home Buyers Finally Catch a Break

Hope for Home Buyers

02 June 2022

Buying Properties

It looks like the combination of rising mortgage rates and sky-high prices is finally dampening demand in the red-hot housing market. Does that mean home buyers will soon catch a break?

In April, single-family home sales along the coast dropped 8.5 percent from the previous year. Year-to-date, nationwide home sales were down 7.4 percent. So far that hasn’t stopped the climb in housing prices. April’s nationwide median home price was just shy of $885,000, up 4.2 percent from March and up 8.7 percent from April 2021.

The good news? Prices across the country may soon level off, and might even decline. With a record number of brand new single-family units under construction in April, a burgeoning supply should give buyers a much-needed break on price. It’s probably smart to lock in a rate before mortgages rise even higher.

Portia Green, REALTOR®

Portia’s clients all have a similar story. Most likely, you met her huddled around a tablet at the dinner table yet she feels like a friend. Her personable nature and easy going approach attract Sellers and Buyers alike, in what can be a stressful and emotionally charged event. A talented REALTOR® with 15 years experience, Portia is just as excited about real estate today as she was with her first transaction. She remains ever-committed to helping her clients find their place in the world and helping busy people navigate this crazy real estate market like a pro.

Related News

Scary Homebuyer Myths Debunked

Today, we debunk a few spooky myths to limit the ghosts and goblins that can pop up along the path to your dream home.

The Benefits of Touring Homes in Bad Weather

Your tendency may be to snuggle up in front of the fire with a warm beverage, but storm season is one of the best times to venture out and view some homes.

More Home Buyers Can Expect Less Competition

Inflation is the highest it’s been in 40 years and no doubt it has adversely impacted your budget. But how is it affecting the home you want to buy?

The Real Estate Market Has Peaked

It likely comes as no surprise that we’ve been in the middle of historically high home values. Has the market peaked, or will the craze continue?

The Search: How to Start House Hunting

Before you can buy a house, you’ve got to find it first. Learn why house hunting is some of the most fun you’ll have in real estate.

New Year’s Resolutions for Aspiring Homebuyers

Preparation is key to buying a house. Set these resolutions and take smart steps to ensure the best financial shape for your home purchase in the New Year.