Rising mortgage rates and escalating home prices are making it increasingly difficult for first-time homebuyers to enter the market, dampening their faith in the American Dream. 

Currently, a troubling 40% of renters believe they will never be able to purchase a home, up from 17% last year. 

Despite this, there's a glimmer of hope with the potential for more housing inventory and anticipated rate cuts by year's end, which could rejuvenate the market. 

It's essential for us to keep an eye on these developments as they will determine the market dynamics as we head into 2025.

In Mesa County

There are currently 413 active homes on the market in Mesa County. This is a 3% decrease compared to a week ago.

The average sold price YTD is $425,642 and the median sold price YTD is $385,000.

Mortgage Rates Today

Note: If you are receiving this unexpectedly it is because you have been placed on a limited distribution of friends and colleagues that I respect and believe will find this information useful