Exciting Market Developments for June
As we dive into the summer months, there’s a renewed sense of excitement in the real estate market. At Desert Rose Homes, we’re thrilled to share some pivotal updates that can aid your home buying journey.
More Homes on the Market
June has brought a fresh inventory of homes, creating more opportunities for prospective buyers to find their dream abode. With increased listings, there’s a wider array of choices in terms of location, size, and style. Whether you’re looking for a cozy cottage or a spacious family home, the current market dynamics are favorable for finding just the right fit.
Interest Rates Trending Down
Another significant development is the positive trend in interest rates. After a period of fluctuation, we’re seeing a decline, which is excellent news for homebuyers. Here are the latest figures:
- 30-year fixed-rate mortgage: 6.92%
- 15-year fixed-rate mortgage: 6.09%
These rates are based on the Freddie Mac Primary Mortgage Market Survey® and show a downward trend compared to previous months. Lower interest rates mean reduced monthly payments, making homeownership more affordable and accessible.
Looking at Historical Averages
It’s beneficial to keep these numbers in perspective by comparing them to historical averages. Over the past several decades, interest rates have seen various highs and lows. Currently, we are still in a relatively advantageous position when compared to some of the higher rates seen in past years.
Why Now is a Great Time to Buy
With more homes on the market and decreasing interest rates, June presents an ideal time for buyers to take action. Not only does this combination create a favorable financial environment, but it also enhances the buying experience by offering more options and flexibility. At Desert Rose Home, we are here to guide you through every step of the process, ensuring you make informed decisions that align with your goals.
We invite you to explore our latest listings and connect with our team to start your journey towards homeownership today.
