HERE'S YOUR WEEKLY LISTING REVIEW FOR

3706 S Alder Cir

Hi Lindsay,

There were no private showings last week. On the market side, there was some encouraging activity, with one comparable property going pending yesterday, while no comparable homes sold during the past seven days. Although buyer activity was quiet for your property this past week, the recent pending sale is a reminder that qualified buyers are still active in the market. We'll continue maximizing your home's exposure, monitoring comparable listings and buyer activity closely, and keeping you informed of any new showings, market changes, or significant developments.

On the general market side of things, mortgage rates remain elevated despite a slight improvement at the end of last week. Current 30-year conventional rates are around 6.625%, 15-year conventional loans are approximately 6.00%, and VA/FHA loans are near 5.875%. While inflation cooled to 3.5% in June, down from 4.2% in May, recent increases in oil prices (topping $100/barrel) have put upward pressure on mortgage rates. Many economists expect rates to improve once energy markets stabilize, but for now, buyers are continuing to navigate a higher-rate environment.

One impact we're watching closely is buyer purchasing power. As interest rates rise, monthly payments increase, which can reduce the amount some buyers qualify to borrow. This has contributed to buyers being more selective, taking longer to make decisions, and placing greater emphasis on overall value when comparing homes. We'll continue monitoring market conditions and mortgage rate trends closely and keep you informed of any changes that could affect your property's position in the market.

– Haydn