June 2023 Homeward Bound Newsletter
Guess what? June is here, and you know what that means—summer is in full swing! Longer days, warmer weather, and more people out house-hunting — particularly families hoping to get settled before the school year begins in September. As we gear up for these exciting times, let's also remember to celebrate Father's Day. This special occasion honors all the wonderful fathers out there, and we trust you have some delightful celebrations planned to make their day memorable.
Amid these summer activities, it could be the perfect time to upgrade your living space to a larger home or perhaps add an ADU (Accessory Dwelling Unit) to your property. And if high-interest credit cards are a burden, some homeowners are finding a solution in refinancing their homes. Particularly for those dealing with interest rates north of 20% on credit cards, refinancing can serve as a beneficial strategy to manage this debt. With your trusted mortgage team at your side, we can explore this possibility together, tailoring a plan that suits your unique needs and circumstances.
We've got some exciting news for you. The summer housing market is shaping up to be even better than expected based on recent real estate indicators. According to Nadia Evangelou, the senior economist and director of real estate research for the National Association of Realtors, there's reason to be optimistic. Although home sales dropped by 2 percent in March (the most recent data available), here's the exciting part: 34 percent more homes were sold in March than in February!
Now, that's a serious leap forward. In fact, that increase is even larger than the average growth of 33 percent we typically see between February and March in non-pandemic times. Can you believe it? The housing market is making progress, exceeding expectations along the way.
As the summer sun shines down on us, let's make your homeownership dreams a reality. Let's ride this wave of positive momentum. And you know what can give you a competitive edge? Yep, you guessed it—getting pre-approved!