Melrose Blog

We love to share our knowledge and experience with you. Read some of our latest blog posts and become an aware buyer or a confident seller.
Across the country, consumers are feeling the bite of inflation and surging mortgage interest rates, which recently hit 4.6% in March, according to Freddie Mac, rising 1.4 percent since January and the highest rate in more than 3 years.
As we progressed through February, the actual and expected impacts of COVID-19 continued to grow, with concerns of economic impact reaching the stock market in the last week of the month. As the stock market declined, so did mortgage rates, offering a bad news-good news…
For all of Newport Beach, the median sales price of detached homes year-to-date was $2,090,000, down 7.7% from the same month last year. In comparing April 2019 to April 2018, the market activity has softened, with pending home sales of detached homes down 35.3%, and…

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