Rates continue to drop

For the first time since August, mortgage rates dropped below 7% last week – 6.95%, according to Freddie Mac. Analysts expect this trend to continue into  the new year as inflation continues to drop as well.

And, while new listings continue to rise – up 6.8%, inventory remains low which is helping push home prices up slightly (an increase of 1.5% in the median list price).

If you’re looking to buy, you;d better move quickly as homes spent lesstime on the market for the tenth week in a row when compared with the same week in 2022.

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