Mortgage Rates and Home Sales Breaking Down July 2024 Market Data

Real Estate Jerky Daily

Welcome to another insightful episode of Real Estate Jerky Daily with your hosts, Ed Parcaut and Mike Kelly! In today's "Market Update Wednesday," we dive deep into the latest trends in the real estate market, including intriguing statistics on mortgage applications, new home sales, and existing home sales. 📈 **Episode Highlights:** - **Mortgage Applications:** Hear the latest on the 2.2% decrease in overall application volume and what's driving these changes. - **New Home Sales:** Discover how new home sales measures, signed contracts on new homes, decreased by 0.6% in June. - **Existing Home Sales:** Understand the dynamics of existing home sales which saw a 5.4% decrease last month. - **Median Home Prices:** Analysis on the median new home price increase to $417,300 and existing home price at $426,900. In addition to market updates, Ed and Mike touch on the impact of the new broker agreement guidelines and what they mean for future homebuyers and real estate agents. 🔍 **Discussion Points:** - Changes in the volume of mortgage applications - Trends in new and existing home sales - The implications of new broker agreements starting August 17 - Historical perspective on how media and political climates have shifted over the years 📅 **For Realtors:** Important reminders about the new broker agreements and ensuring full disclosure with your buyers. 🚀 Stay informed and ahead of the curve with Real Estate Jerky Daily. Don’t forget to like, subscribe, and ring the bell for notifications!

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**Have Questions or Comments? Drop them below, and Ed & Mike will address them in the next episode!** Thank you for tuning in! #RealEstate #MarketUpdate #Mortgage #HomeSales #RealEstateJerkyDaily #EdParcaut #MikeKelly