Real Estate Newsletter for September 2022

6 Month Drop in Market

September 2021 had 533 homes for sale and this September we had 450 sold, 15.6% drop in homes sold. We haven't seen this bad a September in five years. The decline in sales volume is driving the mortgage rates to climb. Inventory is down 23%.

Highest Mortgage Rates in 20 years

We started in January with mortgage rates at 3.22%. We are now seeing rates increased by 4 points. Prices still continue to rise.Average prices are at 7.2% high since last year. September had the 3rd highest average monthly than we have ever seen.

If you want more information on the market please contact me.

Angela Ketelsen

Keller Williams Realty Signature

815-980-0144

angketelsen@kw.com