Happy Holidays! As 2023 comes to a close we wanted to share one last blog of industry news this December. Mortgage rates plummet, AI is everywhere you look… even in house listings, and the 2023 housing report from Rocket Houses. We’ve got you covered with these highlights below.
“Buyers often want to know what a home will look like with some changes, not just what it looks like right now,” said Ariel Dos Santos, Redfin’s senior vice president of product. “Sellers want their listings to appeal to the broadest pool of buyers, regardless of design preferences. Redfin Redesign uses Roomvo’s AI capabilities so buyers can see what they could do with a space in just a few clicks. It’s one way Redfin’s using AI to make real estate better for buyers, sellers, and agents.”
“The housing in our neighborhoods should be homes for people, not profit centers for Wall Street,” said Merkley. “Yet, in every corner of the country, giant financial corporations are buying up housing and driving up both rents and home prices. It’s time for Congress to put in place commonsense guardrails that ensure all families have a fair chance to buy or rent a decent home in their community at a price they can afford.”
“The 30-year fixed-rate mortgage averaged near 7%, down from nearly 7.80% just six weeks ago,” said Sam Khater, Freddie Mac’s chief economist. “When rates began to rapidly drop, purchase applications rebounded initially, but this improvement in demand diminished in the last week. Although these lower rates remain a welcome relief, it is clear they will have to further drop to more consistently reinvigorate demand.”
Is Raleigh a buyers or a sellers market? How has it changed since last year? What do mortgage rates look like over the last year? If you want to learn more about these questions and more then check out the facts and figures in this article.
Interested in learning about what Gaskill Realty can do for you this December? Click here to learn more