Are we cheering for the Spurs or the Knicks?

I am personally rooting for the Knicks. It's a bit of a selfish thing—I just want to see how absolutely bonkers New York City will get if they actually pull off a championship win. I envision beautiful, pure bedlam, and I'll safely be watching the chaos from the opposite coast!

Let’s get into the data.

Surprising national real estate news dropped yesterday, showing a 3.2% increase in existing-home sales for May. Across the country, the market is finding unexpected momentum despite the fact that affordability remains tight. Even better news? Distressed sales (like foreclosures) made up just 1% of total transactions—further proof that homeowners are on incredibly solid financial footing.

The main takeaway for me is that this surge is happening even with the 30-year fixed mortgage rate national average holding steady around 6.5%.

We’ve talked a few times before about how the historical 40-year average for a 30-year mortgage is right around 6.7%. It seems buyers are finally digesting these rates, realizing they are normal for the long haul, and moving forward confidently on well-priced homes they can comfortably afford.

National vs. Local:
It's always important to remember that national trends are not local trends. Every pocket right here around Sacramento is a little different—some neighborhoods are fiercely competitive, while others offer room to breathe.

Every buyer is unique, with their own specific reasons for moving and their own comfortable budget limits. That’s why I say it in almost every single newsletter: preparation is absolutely essential.

True preparation isn't just about getting your financing lined up with a lender. It's also about working with an agent who actually knows the local landscape—someone who can point you toward the exact neighborhoods that fit your lifestyle and your price point.

A fantastic spot to add to your house-hunting radar right now is Rancho Cordova. It features an amazing variety of distinct neighborhoods, great community parks, and highly versatile price points.

Want to see what it has to offer? Check out my brand-new Rancho Cordova Living In Guide on my website and right here:

Have a great week!

What are you seeing or hearing? I'd love to know paul@guiderealestate.com
Visit www.paulpelettarealtor.com

Located in the desirable Pocket/Greenhaven neighborhood of Sacramento, this updated two-story home features all bedrooms upstairs, updated flooring throughout, abundant natural light, and a remodeled primary bathroom. The kitchen offers stainless steel appliances, slab countertops, and overlooks the private backyard with mature landscaping, newer fencing, and multiple fruit trees including orange, lemon, tangerine, and pomegranate. Conveniently located near Charter Pointe Park, Nugget Market, shopping, dining, and easy I-5 access, this home offers a family and pet-friendly lifestyle with nearby parks and outdoor space to enjoy.

  Listed at $549,000 by Brook C. Brady - GUIDE Real Estate
665 Cutting Way, Sacramento, CA 95831

Know someone who may be interested? Let me know at paul@guiderealestate.com

*These rates are courtesy of Dara Delgado - Home Loans*