The 4th is Back!, Hot Hot Housing Market, Fast Facts

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Wishing you a happy, safe, and celebratory 4th of July this Sunday! From all of us at the Martin Eiden Team.

Market by Marty

New and Noteworthy

The 4th is Back!

The annual 4th of July fireworks show

will make a triumphant return to the

skies over New York City this weekend. Over 65,000 shells

will explode over the East

River this Sunday. Spectators will

able to see the fireworks from many neighborhoods

in Midtown Manhattan and parts

of Brooklyn and Queens. (Find out who is performing and where to get the best seats here)

Hot Hot Housing Market

The housing market is so hot right now that half of existing-home buyers who used mortgages in April made at least a 20% down payment. That level of upfront investment has only been seen 3 times over 10 years, all of them happening since last fall. A quarter of existing home buyers paid cash in April, the highest level since 2017. Big down payments and "whisper listings" are squeezing out first-timers trying to find a home. Pro Tip: work with us to avoid the fray. (Full Story)

Fast Facts

• Mortgage applications, re-fi's and originations slumped. The average mortgage rate is up now at 3.2%, up from 2.8% at the beginning of the year. The average mortgage is over $400,000.

•Elevated inflation will compel the Federal Reserve to raise US interest rates at least twice by the end of 2023, according to a new poll of leading academic economists for the Financial Times. (More Here)

Team News

236 Lewis Ave

💥Listing of the Week! 💥

This multi-family detached townhome features original details, a charming front yard, and tons of light. Reach out for a private showing! 📲

236 Lewis Ave

Bed-Stuy BK

4 Bed | 3.5 Bath | 2880 sqft

$1,795,000

See the Listing

Our Listings

27 West 72nd Street, Unit 1510 Upper West Side 1 Bed \| 1.5 Bath Open: 7/6 12:00pm - 12:30pm	215 West 88th Street, Unit 3A Upper West Side 1 Bed \| 1 Bath
47-55 39th Place, Unit 2E Sunnyside 1 Bed \| 1 Bath	431 West 54th Street, Unit 4D Hell's Kitchen Alcove \| 1 Bath

See All Properties

Martin Eiden Team

Top 1/2 of 1% of 1.4 million agents

917.701.8898

met@compass.com

martineidenteam.com

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Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. All Coming Soon listings in NYC are simultaneously syndicated to the REBNY RLS.

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The 4th is Back!, Hot Hot Housing Market, Fast Facts

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