RE Stats: 1/30-2/6

Mortgage Rates jumped up to 6.39% today! Last week, rates were in the upper 5's. The FED's decision and comments on the market shot the rate down, but then the jobs report came in much higher than expected.

I still believe mortgage rates are trending down, but some of the recent data has pushed them higher for now.

In Mesa County

• There are currently 487 active homes on the market in Mesa County. This is a 1% increase from 477 last week.

• The average sold price YTD is $386,097 and the median sold price YTD is $370,000.

• There have been 43 price reductions in the last 7 days.

• There have been 86 new listings in the last 7 days.

• There have been 71 pending listings in the last 7 days.

• The average DOM for the active homes is 88.

Last Weeks New Listings

Last Weeks Sold Listings

NATIONAL MARKET UPDATE

Spending on residential construction in December was a tick below November’s read. But for all of 2022, residential builders spent just under $900 billion, a 13.3% increase over 2021!

Realtor.com reports the active inventory of for-sale homes is now 69% above a year ago, with homes spending 14 more days on the market compared to last year, giving buyers more time to evaluate more options.

Nationally, home price growth continues to stabilize. The S&P CoreLogic Case-Shiller Index registered a 7.7% annual increase in November, down from 9.2% in October. This was the seventh straight month of annual price decelerations.

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