Interest Rate Cuts Fuel November Real Estate Market Increase
Posted by Brian VanBart on
In November, the average sale price in the real estate market was $640,198, reflecting a 5.9% increase compared to the same month last year. This rise in prices highlights the ongoing demand and value in the market. Sales activity also saw a significant boost, with 614 transactions, marking a 35.5% increase year-over-year. New listings saw a significant rise of 10.8% year-to-date, providing more options for buyers.
Kathy Amess, Chair of LSTAR, commented on these trends, saying, "The recent interest rate cuts have played a significant role in boosting market activity. Lower borrowing costs have made homeownership more accessible, driving up sales and expanding inventory. It's encouraging to see such positive momentum, and we remain committed to working…
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