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RE/MAX NATIONAL HOUSING REPORT FOR DECEMBER 2022

DENVER — The housing market decelerated throughout 2022 creating more opportunities for homebuyers, in stark reversal of the frenzied seller’s market of the previous year. The year’s most telling stats were punctuated in December: Home sales were down 38% from a year ago while the number of homes for sale was up 69% in the report’s 53 metro areas. Sales in every month of 2022 fell short of the previous year, with the percentage of decline starting out in single digits during the first quarter before topping 30% in the fourth quarter. The Median Sales Price of $385,000 was 1.3% higher

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RE/MAX NATIONAL HOUSING REPORT FOR DECEMBER 2022

DENVER — The housing market decelerated throughout 2022 creating more opportunities for homebuyers, in stark reversal of the frenzied seller’s market of the previous year. The year’s most telling stats were punctuated in December: Home sales were down 38% from a year ago while the number of homes for sale was up 69% in the report’s 53 metro areas. Sales in every month of 2022 fell short of the previous year, with the percentage of decline starting out in single digits during the first quarter before topping 30% in the fourth quarter. The Median Sales Price of $385,000 was 1.3% higher

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Mortgage Rates as of 12/21/2022

Current mortgage and refinance rates Accurate as of 12/21/2022. Product Interest rate APR 30-year fixed-rate 6.352% 6.468% 20-year fixed-rate 5.896% 6.042% 15-year fixed-rate 5.636% 5.819% 10-year fixed-rate 5.181% 5.372% 7-year ARM 6.194% 6.568% 5-year ARM 5.825% 6.460% 3-year ARM 2.340% 3.371% 30-year fixed-rate FHA 5.530% 6.339% 30-year fixed-rate VA 5.580% 5.871%

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RE/MAX NATIONAL HOUSING REPORT FOR NOVEMBER 2022

DENVER — November begins a stretch of four months with typically the lowest home sales of the year – including December, January and February – and this November followed suit. Seasonality was just one factor contributing to November’s 12% drop in home sales from October in the report’s 53 metro areas as fluctuating interest rates and ongoing economic uncertainty weigh on the market. “We’ve been seeing a return to a more balanced market, where not just sellers are in the driver’s seat. Sellers and buyers are each able to negotiate, with neither having a built-in upper hand,” said Nick Bailey, RE/MAX President

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RE/MAX Big Bear

Meet our Local Experts!

Why use a local Re/Max Agent?

RE/MAX Big Bear agents have been serving the community for over 25 years.

RE/MAX Big Bear agents stays current on local issues that matter to our second home buyers and vacation rental investors.

RE/MAX Big Bear supports local charities for our homeowners that live in our community.

RE/MAX Big Bear offices are open 7 days a week.

RE/MAX Big Bear agents provide personal service.

RE/MAX Big Bear has the resources to help you find the home or investment property right for you.

RE/MAX Big Bear agents understand how the changing seasons can affect your new home.

RE/MAX Big Bear utilizes the local MLS (multiple listing service) to ensure you find the right home at the right price.

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