July Sales for Existing Homes Fall

July median prices increased again while the number of sales continues to contract. Existing home sales fell 2.2% in July from June 2023. This translates into the annualized rate of a little over 4 million units, according to the National Association of Realtors. In...

New Normal: Small Inventory – High Rates

Unaffordable, Scarce and High Rates By Anthony DiMaio There are an abundance of complaints coming forth from the sellers and the buyers out there. Sellers are having a hard time finding a property to move to after the sale that is affordable. And buyers are having a...

Home Prices Edge Higher AGAIN!

With mortgage rates crossing the 7% line, and inventory continuing to be problematic for buyers, home prices for the week ending August 12th edged up again. According to the National Association of Realtors the median home prices are edging up, approximately $440,000,...

New Normal – Interest Rates Hit 7 Percent

Normal turns cruel: rates hit 7.09% The news hit the stands that the average mortgage rate on a 30-year fixed loan came in at 7.09%, which is the highest in over two decades. In contrast, in 2022 the average rate for that same mortgage was approximately 5%. When the...

ChatGPT and Real Estate

By: Anthony DiMaio Ways real estate agents are using ChatGPT One of the best ways to use ChatGPT is in writing a listing for a property. One of the great benefits is that the agent doesn’t have to start from scratch, he or she can put in some description and...