Real Estate Prices and Interest Rates – National Real Estate News I’m Reading this Morning

Home prices seem to be rising in the Charlottesville MLS – keep in mind with this chart that it’s for the entire Charlottesville MLS.

Moving Median - Charlottesville MSA.jpg

Interest rates are rising, but let’s keep some perspective.


(thanks to Keith for the chart)

Here’s the thing – if you’re buying a home and you are confident you’ll be there for at least five to seven years (many of my clients now are looking at 15-20 year timelines), be aware of the potential for price drops, but also focus on what your total cost of ownership will be versus renting.

Zillow expects a lot of interest rate volatility to come
A few comments on House Prices and New Home Sales
Mortgage Rate Shock Likely to Dent the Housing Market
Existing Home Inventory is up 16.9% year-to-date on June 24th
Mortgage Applications Collapse To Lowest In 19 Months
Housing Market Shrugging Off Rise in Mortgage Rates
Run-up in mortgage rates raises questions about housing recovery

Spiking Home Prices Are Actually A Cause For Concern

Trulia’s economist –

Zillow’s economist –

The NAR’s economist:

“The price increases are misaligning with other economic fundamentals,” Yun said.

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