The Housing Market Chills as Mortgage Rates and Prices Scare Buyers, Stocks End Higher as Wall Street's Winning Week Rolls On, Q2 Brooklyn Market Report

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New and Noteworthy

The Housing Market Chills as Mortgage Rates and Prices Scare Buyers

Rising mortgage rates, combined with high home prices are discouraging would-be buyers. Sales of have fallen for 5 straight months, during what is generally the busiest time of year in real estate. The flip side of this story is that because less buyers are in the market, there is an opportunity to buy with less competition. Remember to be greedy when others are fearful! (Full Story)

Stocks End Higher as Wall Street's Winning Week Rolls On

Stocks ended higher on Wall Street Thursday, building on their winning week. The gains came amid a deluge of news about the economy, interest rates, and corporate profits. The S&P 500 rose 1% after shaking off an early stumble, returning to its highest level in six weeks. (Full Story)

Q2 Brooklyn Market Report

The market is

changing in Brooklyn. Contracts signed were down 21% YoY indicating that

the torrid record

pace of the recent past is concluding. Sales volume, however,

ballooned to $4.5 billion, a

solid 14% jump year-

over-year.

A remarkable figure

given that total transactions

increased by only 1%. A

verage sales price rose

by 13.1% compared to last

year

(Full Report Here)

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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. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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The Housing Market Chills as Mortgage Rates and Prices Scare Buyers, Stocks End Higher as Wall Street's Winning Week Rolls On, Q2 Brooklyn Market Report

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