Although the real estate market from coast to coast has tapered off, one sector of the housing market that is still surging is in luxury home sales during the third quarter. Robert Frank of CNBC wealth reporting claims high demand, low inventory and higher prices are the main driver for the higher-end residential homes sales …
Consumer demand as a whole for refinancing has dropped with higher interest rates and this has impacted the once immune jumbo mortgage borrowers as well. In many housing markets across the country, jumbo mortgages exceed $417,000, and are usually higher than $625,500 in designated high-cost markets like San Francisco, Los Angeles, Bethesda or certain counties …
While Mortgage Refinancing Slows, One Sector Remains Hot Read More »
The Tucson luxury market is defined at $800,000 and above. “In the Tucson area, October 2013 luxury active inventory was 268 homes, a 15.5% increase from October 2012. Months of inventory was 38.3 months up from 21.1 in October 2012. The median price of sold homes was $1,162,500 for the month of October 2013, down …
