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Federalreserve | Beach Road Realty Blog

Monday, July 15, 2024   /   by Richard Eimers

BRICK BY BRICK: WHY ECONOMISTS SEE THE HOUSING MARKET AS A BUFFER AGAINST RECESSION

As economic uncertainties loom on the horizon, many experts are turning their attention to an unexpected source of stability: the housing market. Despite challenges such as high mortgage rates and affordability concerns, the resilience of the housing sector is emerging as a potential "downside cushion" for the broader US economy. This phenomenon is particularly intriguing given the housing market's historical role in economic downturns. Let's delve into why and how the housing market might serve as a buffer against economic headwinds in the coming months.Richard Eimers July 15, 2024
The Current State of the Housing MarketTo understand the housing market's potential as an economic cushion, we first need to examine its current state. As of 2024, the US housing market presents a complex picture:Inventory Levels: After years of severe shortages, housing inventory has begun to show signs of improvement. This increase in available homes provides more options for buyers and helps to stabiliz ...

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Friday, June 28, 2024   /   by Richard Eimers

MORTGAGE RATES DROP FOR 4TH WEEK: WHAT IT MEANS FOR DESTIN'S BEACH RESORT PROPERTY MARKET

For the fourth consecutive week, mortgage rates have shown a downward trend, offering a glimmer of hope for potential homebuyers and real estate investors. According to Freddie Mac's latest report, the average rate on a 30-year fixed-rate mortgage has inched down to 6.86% from 6.87% the previous week. This decline, though modest, represents the lowest rate since April and could have significant implications for the real estate market, particularly in desirable locations like Destin's beach resort area.

By Richard Eimers Broker Owner June 28, 2024

The Current Mortgage Rate Landscape
The housing market has been navigating choppy waters in recent months, with high interest rates dampening both buyer enthusiasm and seller willingness to list properties. Many homeowners have been reluctant to give up their existing low mortgage rates, creating a shortage of inventory. Simultaneously, potential buyers have faced affordability challenges, leading to a slowdown in market activity.Howeve ...

  beach road realty, richard eimers, eimers group, housing market, mortgage rates, property market, real estate news, real estate market, housing market trends, mortgagerates, real estate trends, homeownership, real estate, home prices, housingmarket, real estate insights, home sales, homebuying, realestatetrends, real estate investment, realestate, economic trends, home buying, homebuying tips, florida realtors, federalreserve, home selling

Sunday, June 23, 2024   /   by Richard Eimers

2024 68TH ANNUAL PANHANDLE WATERMELON FESTIVAL

Several special events and performances can be enjoyed at the 68th Annual Panhandle Watermelon Festival for 2024



Live Music Performance: Country music star Clay Walker performed on Friday night. The chairman described it as "pretty amazing" and noted it drew their biggest crowd ever.
Parade: The festival included a parade on Saturday.
Car Show: There was an expanded car show compared to previous years.
5K Run: A 5K race was part of the festival activities.
Pancake Breakfast: The festival offered a pancake breakfast on Saturday.
Watermelon Contest: This traditional event was held, likely featuring competitions related to watermelons.
Junior Jubilee Contest: A new activity introduced this year where kids were given seeds earlier in the spring to grow watermelons and bring them to the festival.
Watermelon Auction: An auction was held in the Agricultural Center where attendees could bid on various watermelon varieties.
Vendor Booths: The festival featured 45 different vendor ...

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Monday, June 10, 2024   /   by Richard Eimers

WEEKLY MORTGAGE RATES DIP, HOME PRICES SOFTEN

By Richard Eimers June 10, 2024

The housing market is showing signs of cooling down as mortgage rates remain elevated, and home buyers grapple with affordability challenges. According to the latest data, average mortgage rates ebbed this week, but not enough to provide significant relief for prospective homebuyers. Meanwhile, national home prices continue to rise, albeit at a slower pace compared to the past few years.

Mortgage Rates Ease, but Remain High
The average rate on the 30-year fixed-rate mortgage fell to 6.89% in the week ending June 6, down from the previous week's 7.02% average. While this dip in mortgage rates is a welcome development, it may not be enough to entice many buyers back into the market. Rates above 7% have been blamed for slowing down the spring homebuying season, as they have significantly impacted affordability for many households.
Despite the latest ease in mortgage rates, home buyers haven't been flooding back to the market. Mortgage applications f ...

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Monday, March 4, 2024   /   by Richard Eimers

Wall Street Sees a Solid Year for Homebuilders

Sales of new homes rose nationally in 2023 for the 1st time in 2 years, up 4.2% from the previous year. However, fluctuating mortgage rates remain a wild card.

LOS ANGELES (AP) – Housing market trends are shaping up in favor of a solid 2024 for U.S. homebuilders – as long as mortgage rates don't jump back to the highs they hit late last year.
Sales of new homes rose nationally in 2023 for the first time in two years, climbing 4.2% from a year earlier, according to the Commerce Department. This bucked the trajectory of the broader housing market, which remained mired in a deep slump as sales of previously occupied U.S. homes sank roughly 19% to a nearly 30-year low.
Homebuilders were able to mitigate the impact of higher interest rates on home shoppers by lowering prices and offering incentives like paying buyers’ closing costs or buying down the rate on their mortgage. They also b ...

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Beach Road Realty
Richard Eimers
17 Roundwood Drive
Inlet Beach, FL
850-259-1798
Beach Road Realty

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