Oct 2022 Real Estate News
TO FIND AN OPEN HOUSE IN GLENVIEW IL NORTHBROOK IL OR MORTON GROVE IL
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This month’s October 2022 Real Estate News spooks buyers with a few home staging reminders, takes a close look at the opportunities in a shifting housing market and provides five reasons for painting before you move in. Also, we explore ways to keep the process smooth when buying and selling at the same time as well as furniture layout styles to match your living style. All of this and more in the Oct 2022 Real Estate News.
Buyer Opportunities in the Shifting Housing Market
For the sixth month in a row, existing-home sales declined, according to the National Association of Realtors (NAR). What’s more, every sales region in the country reported both month-over-month and year-over-year decreases.
The drop in home sales was likely due to mortgage rates rising to 6% in early June. According to NAR Chief Economist Lawrence Yun, any decrease in mortgage rates would give an additional boost of purchasing power to homebuyers and help stabilize the market.
Price Growth Slowing
Another market indicator that could boost homebuyers is the peak of home selling prices appears to have passed.
Oct 2022 Real Estate News
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Marina Jacobson
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