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- Real Estate Stats: 12/08-12/15
Real Estate Stats: 12/08-12/15
Keenan Coit, Coldwell Banker Distinctive Properties
This week’s Fed meeting was a good reminder that a Fed rate cut does not automatically mean mortgage rates drop the next morning. Powell literally called out that “activity in the housing sector remains weak,” and he framed housing as a pain point that is bigger than just a quarter point move. Federal Reserve
He also explained why long-term rates have not been cooperating, basically saying if longer-term yields are rising, it is not necessarily “inflation fear,” it can be expectations for stronger growth, and those long-term yields are what mortgage rates tend to follow.
Translation for Mesa County: if you’re waiting for the Fed to “save” affordability, you might be waiting a while. The Fed also signaled they’re now in a more neutral zone and feel “well positioned to wait,” so we may not get a steady stream of cuts in the near term.
If you’re buying or selling right now, the winning move is simple: price and negotiate based on today’s payment reality, not on a future rate headline.
In Mesa County
There are currently 678 active homes on the market in Mesa County. This is a 3% decrease compared to one week ago.
The average sold price YTD is $465,829.
The median sold price YTD is $404,710.
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