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According to CNBC, the numbers aren’t looking very promising. June was a tough month for home sales, both new and existing. In fact, the sale of newly built homes fell to its lowest level since last year.
Not surprisingly, mortgage applications have also fallen as mortgage rates continue to climb. Combine that with a tighter than usual housing market and it’s easy to understand the slump.
In Denver, once a robust housing market, sales declined by 5.5 percent in June.
Lack of affordability is the driving factor here as home prices have skyrocketed. As a result, more people are looking into single-family home rentals.
Take a look HERE:
Consider investing in a professionally managed portfolio of single-family homes? Please contact Harold Willig at harold.willig@springviewinvestments.com or 917-209-4452.
Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer and was responsible for the oversight of HFZ's Finance and Accounting team. He has over 16 years of finance and accounting experience.