Financial Markets- Bonds (Mortgage Rates)
The S&P hit an all time high earlier this month and currently flirting with 7,700. This marks nearly 15% rate of retun in the past year and it should be no surprise that there is less investing in real estate with these returns. Retirement accounts are crankin!
As for mortgage rates, as it often goes, when stocks are doing well mortgage rates are not. The 10-year US Treasury breached 4.7% again and is at its highest level in nearly 18 months. This brings the average 30-year fixed rate mortgage to nearly 7% ☹. All the more reason potential buyers should be considering adjustable-rate mortgages. Below is a link to a video explaining why today’s adjustable-rate mortgages make sense, and they are not our parents’ adjustable rate mortgages that caught much of the blame for the housing crash of 08’. As an example, a 10-year arm can be locked at ½ percent less, under 6.5%.
https://www.cnbc.com/quotes/US10Y
https://www.mortgagenewsdaily.com/mortgage-rates/30-year-fixed
Southern Nevada Real Estate
Home sales for Clark County NV for the month of July dipped month over month and year over year. Sales year to date are on pace to be the lowest in 20 years but home values are still holding steady with the median priced home landing back at $480,000. This marks zero appreciation from the peak of May 2022 but this is a good thing. Home values went up 35% in 2 years. 17.5% per year is not healthy, but if home values hold where they are for another year, this would stretch out the appreciation of 35% over 7 years translating a rate to 5% a year from 2020, allowing for wages to catch up and set the market up for healthy appreciation moving forward.
July Home Sales
- Total: 2,814. Year to date is 19,975. Down from 20,216 in 2025.
- Condos: 318
- Townhomes: 348
- Single Family Residences: 2,288
- Inventory = 9,811…when divided by resale SFR sales of 2,288 we come up with 4.2 months supply of homes)
- Median Priced Home holding at $480,000
Message me for access to the following cutting edge realtor tools, Homebot, List Reports and Rate Plug!
List Reports brief description video:
https://listreports.wistia.com
Homebot brief description video:
Rate Plug brief description video: