Unlocking Glastonbury's Real Estate Potential: From Buyer Behavior to Interest Rate Forecasts

Breaking down the real estate headlines and MLS stats so you, the local homeowner, can stay informed on what matters to our hyper-local Glastonbury market.

Glastonbury's single-family home update:
There are 15 available homes on the market in Glastonbury.

Amount of single family homes listed between:
100-200 = 0    200-300 = 1
300-400 = 2    400-500 = 0
500-600 = 2    600-700 = 3
700-800 = 0    800-900 = 3
900-1million + = 4

Uncertain Rates: What to Expect in 2024
The housing market hinges on interest rates, and with recent fluctuations, many are wondering what 2024 holds. By examining historical trends and current economic factors, we can make educated guesses about future rates.

The Buyer-Rate Dance
Watching past buyer activity, there is a clear link between buyer sentiment and interest rates. Higher rates can dampen buyer activity, as they translate to a larger monthly mortgage payment.

Why Do I Watch the Performance of the 10-Year Yield?
Typically, 10-year yields and mortgage rates move in tandem. The 10-year Treasury yield acts as a barometer for investor perception of economic risk. A wider spread between the 10-year yield and mortgage rates suggests investors see heightened economic risk. This can, in turn, push mortgage rates upwards.

Experts like Logan Mohtashami (Housingwire) and George Ratiu (KCM) offer insights into 2024. Their predictions suggest a similar range for the 10-year yield (4.25% to 3.21%) as 2023, with some potential fluctuations. Mortgage rates could fall within a band of 7.25% to 5.75%.

It will certainly be interesting to see if these rates dip below 6 this year! With limited supply of housing, home prices will likely get pushed higher.

Staying Updated on Rates:
Here are some resources to help you stay informed about interest rates:

Federal Reserve: https://www.federalreserve.gov/
Mortgage News Daily: https://www.mortgagenewsdaily.com/
HousingWire: https://www.housingwire.com/

By following these resources and understanding the connection between the 10-year yield and mortgage rates, you'll be better equipped to navigate the housing market.    

Glastonbury's condo market update:
Currently, there are 6 condos on the market in Glastonbury condos on the market in Glastonbury.

I have created a helpful seller’s guide.
Visit for a free no obligation copy: https://bit.ly/SellerGuideRequest 

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