Millennials now make up 43% of Homebuyers
The share of millennial homebuyers increased significantly over the past year, according to the 2022 Home Buyer and Seller Generational Trends report from the National Association of Realtors® (NAR).
The combined share of younger millennial (23 to 31 years old) and older millennial buyers (32 to 41 years old) rose to 43% in 2021, up from 37% the year prior. Almost two out of three younger millennials (65%) found the home they ultimately purchased on the internet, a number that gradually decreases with older generations. (more…)
Open Houses weekend July 9/10
Here are this weekend’s Open Houses (an updated list will be posted tomorrow at 8 a.m.):
Click on these links for details: (more…)
New Listings week ending July 8
A welcome surge in New Listings after the long weekend:
Click on these links for details: (more…)
July Inventory shows welcome increase
There has been a sharp increase in the number of properties for sale in the last four months, but while this takes inventory of SFHs above the year ago level, it remains below that of 2020:
Single Family Homes
Condos
The number of Condos available has also jumped, but in this case still remains below year ago levels:
New Listings after July 4
Marblehead is seeing several New Listings after the long weekend:
Click on these links for details: (more…)
Most expensive home in Naples history sells for $62 million
The most expensive home in Collier County history sold Thursday for $62 million, shattering the old record by $10 million.
Built in 2014, the 16,000-square-foot estate features six bedrooms, a glass wine room, a gourmet kitchen, a game room and a second-level pool and came furnished in the transaction.
Has Inflation Peaked?
After I published Have Mortgage Rates peaked? last week a reader asked me why I thought the yield on the 10-year Treasury Bill would not continue to increase, so that even if the spread over the 30-year Fixed Rate Mortgage (FRM) narrowed, the FRM rate itself might still increase.
In Are we already in a Recession?, published on June 18, I wrote: “Just as the yield on 10T has more than doubled since pre-COVID while the Fed Funds rate is unchanged, so the Fed Funds rate can increase sharply – the Fed is forecasting it will reach 3.4% this year, also double its pre-COVID level – without necessarily impacting the yield on 10T. That will depend upon the economic outlook. Ironically, perhaps, the more determined the Fed is to drive down inflation – even at the cost of a recession and higher unemployment – the greater the chance that the yield on 10T – and by extension the FRM – will decline – at some point.”
In the last few days, as more economists talked about a recession after the Atlantic Fed updated its Q2 GDP estimate to minus 2.1% (it was 0% when I wrote on June 18), the yield on 10T has dropped sharply, falling to 2.9% from a peak of 3.5% in the middle of May: (more…)
Open Houses weekend July 2/3
A (small) handful of Open Houses this weekend:
Click on these links for details: (more…)
New Listings week ending July 1
Just a sprinkling of New Listings ahead of the long weekend:
Click on these links for details: (more…)
New Listings before July 4th
Here are the latest’s New Listings:
Click on these links for details: (more…)
Marblehead Festival of Arts Champagne Reception TODAY
The Champagne Reception is a wonderful tradition that kicks off the summer Marblehead Festival of Arts. Refreshments are served under a tent, with tastings provided by many fine restaurants and caterers.
Click Champagne reception for more detials.
Andrew Oliver, M.B.E.,M.B.A.
Market Analyst | Team Harborside | teamharborside.com
m.617.834.8205
www.OliverReportsMA.com
Andrew@TeamHarborside.com
“If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of OliverReportsMA.com. He’s assembled the most comprehensive analysis of Essex County we know of with market data and trends going back decades. It’s a great starting point for those looking in the towns of Marblehead, Salem, Beverly, Lynn and Swampscott”
Open Houses Sunday June 26
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Click on these links for details: (more…)
Have Mortgage Rates peaked?
With all the noise about the determination of the Federal Reserve (Fed) to continue to increase interest rates it might be tempting to asume that mortgage rates will continue to rise.
But I believe there are good reasons for thinking that mortgage rates may have peaked. Read on to find out why I think this.
Current rates
The 30-year Fixed rate Mortgage (FRM) reached its highest level since 2008 this week: (more…)
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