Price Reduced! BERKSHIRE HATHAWAY HOMESERVICES COLORADO PROPERTIES 4 Car Garage/Shop! MONTROSE-THE BRIDGES $879,990 2900 Sleeping Bear Road 4 Beds 2 Baths 12.579 sq.ft. Kree Christie, 970,275,3153 New Listing! MONTROSE $419 000 67317 Leadville Court 3 Bath 12 Beds 11,510 ft 114 Acres Don Bailey, 970 209.1259 New Listing! MONTROSE $610,000 62320 North Star Drive 3 Beds 2 Baths 1,711 sq ft. 11.2 Acres Makaya Cervone, 970.275.7839 New Listing! GUNNISON $380,000 1145 Cove Road 2 Beds 1 2 Baths 840 sq. ft. The Unrein Team, 970.209 9947&970.596 5748 The Average Sold Price in Montrose has increased over 15% compared to last year. If you'd like more information about the value of your home, give us a call today. 15% MONTROSE $435.000 1225 S. 4th Street 3 Beds 2 Baths 11.357 sq. ft. Linda Steil 970 412.0012 IS AFFORDABILITY STARTING TO IMPROVE? Over the past cou of years, a lot of people rave had a hard time buying a home. And while affordability is still tight, there are signs it's getting attle better and might keep improving throughout the rest of the year. Lawrence Yun Chief Economist at the National Association of Realtors "Housing affordability is improving ever so modestly, but it is moving in the right direction" Here's a look at the test data on the three biggest factors affecting home affordability mortgage rates, nome prices and wages 1. MORTGAGE RATES Mortgage rates have been volatile this year, bouncing around from the mid-6% to low 7% range But there's some good news Data from Freddie Mac shows rates have been trending down overall since May Even a small drop can help you out. When rates dintr to afford the home you want because your monthly payment wil be lower. Just don't expect them to go back down to 3% 2.HOME PRICES The second big thing to think about is home prices Nationally they're still going up this year, but not as fast as they did a couple If you're thinking about buying a home slower price growth is good news Home prices went up a lot during the pendemic, making it hard for many people to buy. Now with prices ring more slowly. buying a home may feel less out of reach As Oda Deputy Chief Economat at First American says "While housing affordability is low for potential-time home buyers, slowing price appreciation and lower mortgage rates could help to the dream of homeownership isn't boarded up just yet" 3. WAGES Mortgage rates have improved lately in part because of recent Another factor helping with affordability is rising wages. economic employment, and infuton data Moving forward, some rate volatility is to be expected But if future economic data continues to show signs of cooing experts say mortgage rates could keep gong down BOTTOM LINE This helps you because if your income increases it's easier to afford a home That's because you won't have to spend as much of your paycheck on your monthly mortgage payment When you put all these factors together, you see mortgage rates are trending down, home prices are rising more slowly, and wages are going up faster than usual. Though affordability is still a challenge. these trends are early signs things might be starting to improve bhhscolorado.com 1970.249.4663 Real estate services in Montrose and beyond! 11 Offices and over 160 real estate brokers Call one of our trusted real estate brokers Trena Unrein, Brian Unrein, Autumn Barrett, Don Bailey. Jeff Keenfuss Knee Christie, Linda Stell, Makaya Cervone, Michael Scott Dosch, Heidi Lutz, Mehdi Sepah and Donna Justin Price Reduced ! BERKSHIRE HATHAWAY HOMESERVICES COLORADO PROPERTIES 4 Car Garage / Shop ! MONTROSE - THE BRIDGES $ 879,990 2900 Sleeping Bear Road 4 Beds 2 Baths 12.579 sq.ft. Kree Christie , 970,275,3153 New Listing ! MONTROSE $ 419 000 67317 Leadville Court 3 Bath 12 Beds 11,510 ft 114 Acres Don Bailey , 970 209.1259 New Listing ! MONTROSE $ 610,000 62320 North Star Drive 3 Beds 2 Baths 1,711 sq ft . 11.2 Acres Makaya Cervone , 970.275.7839 New Listing ! GUNNISON $ 380,000 1145 Cove Road 2 Beds 1 2 Baths 840 sq . ft . The Unrein Team , 970.209 9947 & 970.596 5748 The Average Sold Price in Montrose has increased over 15 % compared to last year . If you'd like more information about the value of your home , give us a call today . 15 % MONTROSE $ 435.000 1225 S. 4th Street 3 Beds 2 Baths 11.357 sq . ft . Linda Steil 970 412.0012 IS AFFORDABILITY STARTING TO IMPROVE ? Over the past cou of years , a lot of people rave had a hard time buying a home . And while affordability is still tight , there are signs it's getting attle better and might keep improving throughout the rest of the year . Lawrence Yun Chief Economist at the National Association of Realtors " Housing affordability is improving ever so modestly , but it is moving in the right direction " Here's a look at the test data on the three biggest factors affecting home affordability mortgage rates , nome prices and wages 1. MORTGAGE RATES Mortgage rates have been volatile this year , bouncing around from the mid - 6 % to low 7 % range But there's some good news Data from Freddie Mac shows rates have been trending down overall since May Even a small drop can help you out . When rates dintr to afford the home you want because your monthly payment wil be lower . Just don't expect them to go back down to 3 % 2.HOME PRICES The second big thing to think about is home prices Nationally they're still going up this year , but not as fast as they did a couple If you're thinking about buying a home slower price growth is good news Home prices went up a lot during the pendemic , making it hard for many people to buy . Now with prices ring more slowly . buying a home may feel less out of reach As Oda Deputy Chief Economat at First American says " While housing affordability is low for potential - time home buyers , slowing price appreciation and lower mortgage rates could help to the dream of homeownership isn't boarded up just yet " 3. WAGES Mortgage rates have improved lately in part because of recent Another factor helping with affordability is rising wages . economic employment , and infuton data Moving forward , some rate volatility is to be expected But if future economic data continues to show signs of cooing experts say mortgage rates could keep gong down BOTTOM LINE This helps you because if your income increases it's easier to afford a home That's because you won't have to spend as much of your paycheck on your monthly mortgage payment When you put all these factors together , you see mortgage rates are trending down , home prices are rising more slowly , and wages are going up faster than usual . Though affordability is still a challenge . these trends are early signs things might be starting to improve bhhscolorado.com 1970.249.4663 Real estate services in Montrose and beyond ! 11 Offices and over 160 real estate brokers Call one of our trusted real estate brokers Trena Unrein , Brian Unrein , Autumn Barrett , Don Bailey . Jeff Keenfuss Knee Christie , Linda Stell , Makaya Cervone , Michael Scott Dosch , Heidi Lutz , Mehdi Sepah and Donna Justin