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Hello Summer! 👋
I hope everyone had a wonderful May. As we head into June, we can expect the local weather to heat up—but on the financial side, we are looking for signs of cooling down, specifically with a bit of relief in the 10-year Treasury yields.
We kicked off June with 30-year mortgage rates sitting at a national average of 6.60%. Historically, anytime mortgage rates climb and hold above the 6.5% mark, we see a noticeable shift in real estate activity:
- Slower Pacing: Inventory growth, purchase applications, and pending sales all tend to cool down.
- The Seasonal Pause: Memorial Day weekend and the end of the school year often amplify these slower numbers. When families are packed up for camping trips, vacations, and final school activities, house hunting naturally takes a back seat.
Why Summer is Your Secret Window of Opportunity 🧭
If you've been waiting on the sidelines, this temporary summer lull actually creates a great window to explore your favorite local neighborhoods. Consider these factors:
- Motivated Sellers: Homes currently sitting on the market are actively looking for great offers.
- Less Competition: With recent rate bumps keeping some buyers at bay, you aren't fighting the usual spring crowds.
- Smooth Transitions: Moving during the summer break means the kids won't face mid-year school transfers.
As I always say, preparation is key, and striking while the iron is hot is essential. While there are no signs of a sudden surge in housing supply on the horizon, upcoming macro shifts—like potential stabilizing international events, the upcoming U.S. Semiquincentennial (250th) celebrations, and impending elections—frequently serve as catalysts for economic shifts that can pull interest rates down. When that happens, buyers will flood back in. Getting ahead of that curve now puts you in the driver's seat.
Featured Community: Citrus Heights Living 🌳
If you are searching for an established, vibrant, yet affordable community within Sacramento County, look no further than Citrus Heights.
I recently launched my comprehensive Citrus Heights City Guide on my website! Check it out here to explore the best neighborhoods, local parks, and housing trends:
👉 [Citrus Heights City Guide]
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