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But on the fun side of the season, this June 20th is the first day of Summer so I have prepared a Guide to Summer for you!
THIS MONTH: YOUR GUIDE TO SUMMER
In the Curated Content section below, you'll find a Guide to Summer with:
- Summer Home Decor Ideas
- DIY Summer Weekend Projects
- Summer Entertaining and Parties
- Summer Camps For the Little Ones
- Fun Things to Do in St. Tammany Parish over Summer
In the Events section, you'll find info on fun summer music, block parties, exploring nature, puppies, pilates, roller derbies, fireworks, art, and more.
Hope to see you around!
Then don't miss my Listing of the Month, and Clients of the Month!
Finally, the changes in the weather deliver us new seasonal produce so don't miss visiting our local farmers' markets and sourcing original artisanal products here in St. Tammany!
ON THE REAL ESTATE FRONT
Whereas last month pending national real estate sales surged 6.1% from the month before, this month, they declined by 6.3%. However in the regional South, they fell even lower by 7.7%. Another salient market factor is the increase inventory.
For potential Buyers, this presents you with expanded choice and buying power.
According to Lawrence Yun, Chief Economist at the National Association of Realtors, this offers potential home Buyers more home affordability.
He expressed these other benefits for Buyers as well:
"Moreover, with housing inventory levels reaching five-year highs, home buyers in nearly every region of the country are in a better position to negotiate more favorable terms."
However he declared the following as the biggest impediment to seeing a sustainable increase in home sales:
"At this critical stage of the housing market, it is all about mortgage rates. Despite an increase in housing inventory, we are not seeing higher home sales. Lower mortgage rates are essential to bring home buyers back into the housing market."
Current Mortgage Interest Rates as of June 3:
- 30-year Fixed - 6.96% [last month 6.86% and month before that 6.47%]
- 15-year Fixed - 6.23 % [last month 6.17% and month before that 5.82%]
- 30-year FHA - 6.45% [last month 6.24% and month before that 5.95%]
- 30-year Fixed V.A. - 5.87% [last month 6.25% and month before that 5.90%]
If I may help provide you with a Competitive Home Analysis [CMA], I'm only a text or phone call away - (985) 629-1705 In this manner, you may learn the value of your home.
I am also well positioned to help Buyers fulfill their Home Buying Dreams!
MARKET HIGHLIGHTS
Below, please find national real estate housing data and infographics from the National Association of Realtors. Keep reading to view the summary for the Louisiana market and in particular, St. Tammany and Tangipahoa Parishes.
We think you'll be most interested in what is happening here, but it helps to be aware of national market trends.
Please keep in mind that on the national level, data lags one month behind.
National Snapshot for the Month of April:
- Pending Sales - decreased 6.3% month-over-month [while in the regional South they decreased 7.7%]
- Existing Home Sales - decreased by 0.5% - month over month
- Home Prices - increased 1.8% - year over year
Ongoing Challenges:
- Rising Interest Rates
- Economic Uncertainty
The month of April continued to trend toward a Buyer's Market with 4.4 months of Inventory.
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