As of August 8th, mortgage rates are at their lowest in over a year. Analysts predict the Fed may cut rates in September, which could boost market activity.
Summer typically sees a slowdown in sales and new listings, but prices remain higher than last year. A drop in interest rates might lead to increased activity in August before the fall rebound.
Homeowners' insurance remains a challenge, with 7% of transactions falling through due to insurance issues. New regulatory reforms may improve this situation by year-end. As always, reach out to our team if you have any questions, we're here to help.
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