A weekly review of recently sold homes in Wallingford PA and current market statistics.
There are 27 homes listed for sale – 13 Active listings and 14 Active Under Contract listings – in Wallingford PA and Nether Providence Township on April 6, 2021 with an average asking price of $520,496.
The interest rate for the 30-year fixed-rate mortgage rose slightly this week to an average of 3.18%, inching even higher from its sub 3% average just a month ago. Still, by historical standards, mortgage rates remain low, and some buyers are in a rush to complete their home purchases ahead of any further increases.
“Although mortgage rates remain low, we are beginning to see a pullback by those looking to enter the housing market,” says Sam Khater, Freddie Mac’s chief economist. “In fact, homebuyer demand has gone from 25% above pre-COVID-19 levels at the start of the year, when mortgage rates hit record lows, to 8% above pre-COVID-19 levels today.”
Purchase demand, as reflected in mortgage applications, is also falling compared to late May and early June of 2020, when mortgage rates were at the same level, Khater says. “This is confirmation that while purchase demand remains strong, the marginal buyer is feeling the affordability squeeze resulting from the increases in mortgage rates and home prices we’ve experienced in recent months,” Khater adds.
Still, competition remains strong in the housing market as bidding wars grow more common. The National Association of REALTORS® released its Pending Home Sales Index on Wednesday, attributing a decrease in contract signings mostly to the lack of inventory and not lower buyer demand. Housing activity is expected to remain strong in 2021, but mortgage rates likely will continue to rise. However, they will remain at historical lows near 3.5%, according to NAR’s Economists’ Outlook blog.
View all Nether Providence Twp Homes For Sale
View all Homes Listed In The Last 7 Days
*DOM = Days On Market
4 Wallingford PA homes went under contract
4 new listings came onto the market
No listings were withdrawn from the market
No listings were temporarily taken off the market
1 listing expired
36 homes are Under Contract at this time
3 Wallingford PA homes sold last week
|907 Putnam Blvd||TOWN||2||2.1||$225,000||03/31/21||5|
|307A Saybrook Lane||CONDO||2||1.0||$137,900||04/01/21||6|
|981 Putnam Blvd||TOWN||3||2.1||$232,000||04/01/21||5|
Wallingford PA Real Estate – Wallingford, PA 19086