✔️Mortgage interest rates over 5%. Median asking prices nearing the $400,000 mark. A decrease in homebuyer demand. Has the time finally come for sellers to drop their asking prices⁉️ The answer may be yes⏰, according to a recent Redfin analysis.1 Check it out: • ✔️Interest rates had their highest three-month spike since May 1994. • ✔️A typical homebuyer's monthly mortgage payment increased by 35% year-over-year to an all-time high of $2,288. • ✔️In response to the unfavorable buying conditions, 3% fewer people searched “homes for sale” on Google compared to last year. The Redfin Homebuyer Demand Index—which measures home tour requests and other real estate professional-related services—declined 3% in four weeks. And mortgage purchase applications were down 6% from one year ago. • ✔️For the four-week period ending April 10, the asking prices on homes for sale dropped 13%. The share of listings with price drops grew at its fastest rate since 2015. . Please contact me if you need assistance. As always, it is a pleasure staying in touch with you👍. 1Tim Ellis, “Housing market update: Demand slips, pushing more sellers to drop asking prices,” Redfin, last updated April 14, 2022. . 👉Thinking about buying or selling a real estate thing year?👈 🔜Contact Kinga Andrzejewska with @properties for free consultation 📞 773.704.4301 . #houseforsale #property #kingaandrzejewska #chicagorealestate #chicagorealtor #homesforsalechicsgo #investment #housing #chicago #chicagonieruchomosci #polskiagent #domnasprzedaz #wycenanieruchomosci #chicagorealestateagent #chicagohome #glenviewhome #northbrookralestate #chicagoinvestment #realestateglenview #realestatemountprospect (at Chicago, Illinois) https://www.instagram.com/p/CdGcaAHrsJN/?igshid=NGJjMDIxMWI=
