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Sea Isle City Real Estate Market Report: Inventory Still Low as prices hold steady!

Posted on Monday, July 08th, 2024

4914 Landis Ave Sea Isle City, NJ 08243 Direct: 609 263 1431 Office: 609 263 2267

SEA ISLE CITY SALE MARKET:

NAR predicts mortgage rates will remain above 6% in 2024 and 2025, even with the Federal Reserve cuts to the Fed Funds rate.

“The first half of the year did not meet expectations regarding home sales but exceeded expectations related to home prices,” explained Yun NAR Chief Economist, “In the second half of 2024, look for moderately lower mortgage rates, higher home sales and stabilizing home prices.”

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?When rates come down, more buyers will inevitably join the home-buying market, which could result in bidding wars. Trying to time a market based only on interest rates may not yield fruitful results.

Mortgage Rates range from 6.625% to 6.875% depending on terms.

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Current Interest Rates

More About This Week’s Rates

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The SeaShore Team of Long and Foster Real Estate, Inc of Sea Isle City - continues to be Sea Isle City’s Highest Producing Real Estate Team. The Sea Shore Team’s success of Selling and Renting over $85 Million a Year is a result of the Service and Commitment to their Clients. The members of this team are experts in the community, offering valuable insight and understanding to the Buying, Selling and Renting Experience often connecting with their clients beyond the sale who highly recommend them.