Buyer Interest Dampened By Sharp Mortgage Rate Hike- Staten Island/Jersey Shore Market Report April 2022Posted by Anthony Licciardello on
Interest rates are now giving home buyers sticker shock. The market has dropped in Staten Island, as well as much of the United States. The Jersey Shore market continues to hold its own.
Mortgage rates around the country are now 5.37% according to CNBC Real Estate, the highest since 2009. Borrowing rates have risen faster than expected to, and are projected to rise further by year’s end.
Home prices fell in Staten Island by $26,775 to an average of $669,258. Active listings are also up by more than 100, from 1,279 in February to 1,381 in March. New listings came in at a healthy 654 new homes this month. This is on par with one year ago, when 659 new homes were listed in March. Sales are up from February’s 374 to 425 in March.…
715 Views, 0 Comments