Monday's Main Event - Vol. 112.0 - 01.20.2025

Monday's Main Event Get a jump on your week with the latest in local Real Estate Market trends, Mortgage Rates, and Local Happenings The Main Story... New Construction saw gains over last year, but not by all and not everywhere... 2024 was a mixed bag for builders quadrant by quadrant, but the net growth in new homes that were closed on was right around +10.5% over a year ago.  As we've seen in past months, the area between Rts 1 and 113 is the largest growth area.  However, the average new construction home price declined slightly in this area while all other areas saw new construction home prices rise. Mortgage rates are indeed on the rise and came in over 7% last week for the first time since June of last year.  Historically, January typically ends slightly below where the year will end, which if we had a crystal ball, would imply that we may continue to see rates increase a little through 2025.   It's important to remember as we consider this that the Fed Rate that most people hear about increasing or decreasing ISN'T generally directly tied to mortgage rates.  And, while its fluctuation affects short term interest rates, it may have some indirect affect on long term rates over time. In the mortal words of Cinderella, "A dream is a wish your heart makes"; seems appropriate for the life and times of Dr. Martin Luther King, Jr.  May we always strive to be a better Nation for All. To sum it up... All in all, builders as a whole had a pretty good year, although I'm sure some better than others.  As interest rates stay elevated and average new construction home prices dip a little, consider that builders will want to find more growth this year, as well.   When deciding on a Resale or New Construction, it's important to make sure that your Realtor® is helping you understand the pros and cons of each.  I'm hear to discuss this with you and help you find the right and best home for you. Looking for a Deal ? See what's been sitting around for more than 90 Days and where the greatest opportunities are to negotiate with Sellers Detached Homes Townhomes Condominiums Manufactured Homes See something you like ? Call, Text or Email me for more information. jeff@jeffheckerhomes.net  215-432-3066 Accredited Buyers Reprensentative I'm proud to say that recently I became an Accredited Buyers Representative through the National Association of Realtors. This accreditation is geared toward the nuances of a Buyer and Seller relationship and how Agency comes into play with Unrepresented Buyers. Did you know, if you're a Buyer and don't have an Agency relationship with your Realtor®, they are representing the Seller, NOT YOU!? For More Information: Jeff Hecker - 215-432-3066 - jeff@jeffheckerhomes.net Click Here to start your home search, today! Help me, help you. Complete the Survey Forward this to a Friend Real Estate Portfolio Analysis Stay up to date on your home valuations and real estate assets with a real estate portfolio review. New Newsletter Content Want something that you don’t see in this newsletter? Hit reply and let me know! Local Business Recommendations Reach out to me for any home improvement project contractors, or even food & activity recommendations. Market Stats for Specific Towns or Communities I’m here to help decode the mystery of the Sussex County Real Estate market. Let me know which communities you are interested in for more information.

Did you find this information helpful?  Let me know by simply replying "thanks" in the comments, below. Interested in information about a specific town or community?  Let me know in the comments, below.   I'm here to help decode the mystery of the Sussex County Delaware Real Estate market. *all information in this email is relative to Sussex County Delaware and is not to be construed as the case for Kent or New Castle Counties.