With Terry Story, 25-year Veteran Real Estate Agent with Coldwell Banker in Boca Raton, FL
After soaring all year, existing home sales stalled a little in August 2016, down 4.8%, because of tight inventory levels that perhaps deterred some buyers. In a related development, price rises have also moderated which is good news for buyers who can still score great rates on their mortgages. The declines were most pronounced in the south and the west – regions that had also rebounded strongly in the past.
Terry shares her thoughts on how the Fed’s decision on interest rates… see why she thinks that’s a bit of a non-event for home sales. In addition, Chinese premier Xi Jinpeng’s recent visit to the U.S. highlighted the impact that Chinese investors have had on the U.S. housing market – on single family homes and apartments.
Finally, changes in the pricing of vacation rentals and hidden charges are something you should be aware of if you’re active in that market. See what’s happening there, why it’s happening and what you can do to protect yourself.