SD Capital Funding’s back with another market update!
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We are now in the heart of the purchase season! Let’s take a quick look at what’s going on around the country.
Home prices in the Northeast continued to rise at a modest pace of 3%. Not surprising, the hottest markets are those in the best school districts.
The Southeast is still a seller’s market with high demand and low supply. North Carolina, South Carolina, and Atlanta-metro are among the hottest markets.
In the Southwest, Austin remains the hottest with millennial home-buyers finally taking the plunge into homeownership. Demand is soaring but higher interest rates could cool the market.
California takes the cake with the hottest real estate market in the country.
California’s 2nd tier, more affordable cities, such as Sacramento, Riverdale and Stockton are seeing steady demand and appreciation.
As for interest rates, next week will be a double whammy from global policymakers. Announcements from both the European Central Bank and US Fed on economic projections will certainly move interest rates.
The 30 year fixed rate mortgage ended the week at 4.514%.
That’s our market update, we’ll be back in two weeks!