Well as we have projected July has started off with a Bang, HOT temperatures here in the Northeast along with hot market conditions. Arrows are pointing up in so many of the market variables that we follow. Check out our Market Action Reports for the details.

Buyer and seller activity continue to surprise on the upside, prices in our area continuing to show strength with the national numbers outpacing expectations as well.   

The year-to-date sales in our market area are all up. Not to mention the performance from our neighbors in Manhattan who are experiencing sales at a 6 year high with condos and small scale homes selling at approximately 5 to 10% higher than last year. The stock market remains in a bullish trend, and the jobs report this week was better than expected.

All very positive news with the exception of the mortgage rates which as a result of all this positive economic news has gone strongly against the buyers further creating an urgency that agents have felt from the buyers for most of the spring and now summer market! The continued lack of inventory remains the challenge for us agents.