Pending home sales across the U.S. fell 5.4% in June, according to the latest data from the National Association of Realtors. This decline follows a period of growth in May and brings the national index to 72.5.
💡 Five Town Homes & Living — With Nassau’s median home price hovering near $850,000, a 5.4% drop in contract activity suggests that local buyers are increasingly sensitive to the monthly debt-service costs created by current mortgage rates. For a typical Nassau property, a 6.8% interest rate on a 30-year fixed mortgage now pushes monthly principal and interest payments toward $4,500, forcing many buyers to re-evaluate their maximum purchase price or wait for more inventory to hit the market. Sellers should note that this cooling activity means pricing your home accurately based on recent neighborhood comps is more critical than ever to avoid extended days on market. We are your advocates, not just your agents.
Navigating the changing pace of the Nassau market.
We help you analyze how these national shifts impact your specific Nassau neighborhood’s inventory levels so you can adjust your offer strategy accordingly. No surprises, just honest guidance.
Source: HousingWire
Joey Frankel, a native of the Five Towns, Long Island with years of real estate experience is a social media expert, who will get your home the maximum exposure it needs. She is also a dual agent for both Manhattan and Long Island. Joey will bring you young professionals who are seeking the suburban lifestyle. Sandy Carl is a native of the Five Towns Long Island and familiar with the surrounding communities and school districts on Long Island. She brings over 15 years of event sales experience and real estate with a keen eye for design and home renovations. Frankel/Carl Team Five Town Homes at Douglas Elliman | Licensed Real Estate Professionals | 516-342-0056
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