How's The Market?

OCTOBER 2024 WRAP-UP

Following the Fed’s rate cuts in September, October began with the lowest interest rates seen in two years, fueling a surge in demand and boosting market activity. This led to a large increase in the number of properties going into contract and sold. However, the median sales price and price per square foot ticked down from last year, indicating more buyers entering the market due to lower interest rates, but they are being more price-sensitive, opting for smaller or lower-priced homes, which is pulling the overall median price down.

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