The Santa Claus rally of 2022 failed to materialize in our real estate market in December 2022. Our local market faced several stiff headwinds in December including a doubling of the mortgage rates since December 2021, stronger-than-expected winter storms, and of course the holiday season. The month-over-month median home price dropped 5% to approximately $520,000. More importantly, it was the first time in several years that our market actually lost value year over year. THAT IS CORRECT, the median home price is down 4.7% over the last 12 months. Check out our full market podcast below for full details. 👇
As a bonus, Brian Cushing and I discuss seller concessions and how much a seller can offer to a buyer with a government loan. If you enjoy the podcast, please consider giving a like👍, sharing with a friend or family member, and subscribing to our channel so you can be alerted when new videos are released.
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