July 25th: Real Estate Summary

In the News:

1. Home Sales Fall for Fifth Month

   1. Sales of existing homes ticked down 5.4 percent between May and June, and were down 14,2% from a year ago

2. Demand for Mortgages Hits Lowest Level Since 2000

   1. Rates climbed closer to 6 percent

   2. Requests for purchase loans were down 7 percent from the week before, and 19 percent from a year ago. Requests to refinance were down 80 percent from a year ago

3. Half of Home Offers Now Face no Competing Bids

   1. A steep decline from January's 70 percent bidding-war rate

• There are currently 532 active homes on the market in Mesa County. This is a slight decrease compared to last week

• The average sold price YTD $425,479 and the median sold price YTD is $385,000.

• There have been 109 price reductions in the last 7 days.

• The average DOM for the active homes is 61.

Last Weeks New Listings

Last Weeks Sold Listings

Also, go check out my new Podcast with Coldwell Banker Distinctive Properties CEO, Todd Conklin! 

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