A recent report by the Mortgage Bankers Association showed a slight decline in the national median mortgage payment, down to $1844. Housing affordability is constantly on in the news and on the minds of many, especially folks I talk to about qualifying for a home purchase. The recent rise in interest rates has resulted in higher costs for buyers looking to make a move, but recent market reports have yet to show a price drop in Northfield. Average time on the market is hovering around 23 days, which is up from 13 not too long ago, but still we find ourselves in a relatively fast paced market for popular homes that remain in short supply.
For more on the MBA reports, check out their website - mba.org.
Market reports are available for many local communities on my Market Data Reports.
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