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June Real Estate News Wrap-up

Weekly Newsletter #58

 
Quote of the day: “The best investment on Earth is earth.” - Louis Glickman


What We’re Up To


Welcome to the 58th issue of the TGFLIP Marketing Agency Newsletter!

 

Our goal with this newsletter is to provide you with the latest news, insights, and best practices in marketing, with a focus on real estate and small business marketing.


June Real Estate News Wrap-up


Hello there,


Welcome to our June Real Estate News Wrap-up, where we bring you the most crucial updates from the past month. Let’s dive in and see what's been happening in the real estate world!


1. Mortgage Rates Reach New Lows, But Demand Remains Stagnant

What’s Happening? 

  • The average interest rate for 30-year fixed mortgages dropped to 6.94%, the lowest since March.

  • Despite this drop, overall mortgage application volume only increased by 0.9% from the previous week.

  • Home purchase applications rose by 2%, but are still 12% lower than the same week last year.

  • Source: here


2. Home Prices Hit Record Highs, Yet Buyers Gain Negotiating Power

What’s Happening? 

  • The median U.S. home-sale price soared to $396,000, a new record.

  • Pending home sales dropped 3.8%, marking the largest decline since early March.

  • Buyers are now finding more room to negotiate as stale listings and price drops become more common.

  • Source: here


3. Home Sales Plummet to Decade Lows

What’s Happening? 

  • May saw one of the lowest levels of home sales in the past decade, dropping 1.7% from the previous month.

  • Despite the high demand, the supply of homes remains 25% below pre-pandemic levels.

  • One in five sellers cut their listing prices, indicating a softening market.

  • Source: here


4. Homebuilders' Confidence Dips, But Hope Remains

What’s Happening? 

  • The NAHB/Wells Fargo Housing Market Index fell to 43, indicating low confidence among homebuilders.

  • Decreased housing starts and building permits point to continued caution in the market.

  • However, a slight increase in housing completions offers a glimmer of hope.

  • Source: here


5. Fed’s Rate Decisions Impacting the Housing Market

What’s Happening? 

  • The Federal Reserve kept the benchmark interest rate steady at 5.25%-5.5%, leading to high mortgage rates.

  • Mortgage rates remain near two-decade highs, with the average 30-year fixed loan at 6.99%.

  • This decision is expected to keep mortgage rates elevated through the summer.

  • Source: here


Need Help Marketing Your Property?


At TGFLIP Marketing Agency, we specialize in getting your property in front of the right buyers. Whether it's through detailed buyer lists, video marketing, or other digital strategies, we’ve got you covered. Let us help you achieve your real estate goals with tailored marketing solutions.


Let’s make your property the next big thing!


Contact us today! 


Stay tuned for more updates next month. Have a great week!


Warm regards,

TGFLIP Marketing Team




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