August…..Really? Where has this year gone? The summer is winding down and school is close to starting again. Which if you are a parent then I’m sure you have a little grin on your face. We took a fun family trip in July to visit my wife’s sister in Houston and I would never recommend driving it like we did. Just a little advice I wanted to share with you all.
July again showed that the Real Estate market in the metro area is hot. In fact, Denver reached the highest level on records dating back to 2000. That marks the first time since the housing bust that any city has reached an all-time high. Home values are rising as more people are bidding on a scarce supply of houses for sale. Steady price increases, along with stable job gains and historically low mortgage rates, have in turn encouraged more Americans to buy homes.
Higher home prices help the economy in several ways. They encourage more sellers to put their homes on the market, boosting supply and sustaining the housing recovery. And they make homeowners feel wealthier, encouraging consumers to spend more. The average rate on a 30-year fixed mortgage has jumped a full percentage point since early May and reached a two-year high of 4.51 percent in late June.
Rates jumped after Chairman Ben Bernanke said the Federal Reserve could slow its bond-buying program later this year if the economy continues to improve. The Fed’s bond purchases have kept long-term interest rates low, encouraging more borrowing and spending.In recent weeks, Bernanke and other Fed members have stressed that any change in the bond-buying program will depend on the economy’s health, not a set calendar date.
Martin Home Group was honored to help 8 clients in July either buy, sell or both. If you are thinking of buying or selling or know anyone who is, please don’t hesitate to call me. I appreciate your continued support and trust as, Your Real Estate Agent!
President & CEO
Martin Home Group
Keller Williams Realty, DTC
Email: [email protected]