Weekly Paradise Real Estate Market Update

Spring may finally be coming. After looking at the Paradise weather forecast for next week and at the activity level improvement of the real estate market, I think Spring may be around the corner. A cooler spring than years past, but spring no less.

The real estate market experienced a slight increase in activity with 10 properties going under agreement and 7 properties closing escrow. Little has changed on where most of the activity lies with the single family homes under $250,000 and manufactured homes making up the highest percentage of pending properties. There were however 17 new listings and 12 price reductions signaling that the Paradise real estate market is still very much in favor of the buyer. Interest rates also remained very low this week, experiencing virtually no change at all. They are currently at 5.72 for a 30 year fixed rate mortgage. Great buyer's market with many homes having a lower monthly payment than rent.