5 Key Items to Keep an Eye on This Week

New home construction - mortgage rate news

Just when you thought home prices were headed to the next galaxy, buyer apathy is starting to reverse course. A recent report reveals average home prices declined 0.77% in July. If you’re thinking big deal, think again. This fraction of a percent is the largest one-month price drop in 11 years. And some larger markets out west have seen home prices drop an average of 4-10%. All good news for homebuyers who’d all but given up because of affordability issues. Let’s hope the trend continues.