Although the Magalia real estate market did have 12 new listings and 11 price reductions last week, we are finally starting to see it come to life again. There were 8 properties that went under agreement and 2 that closed escrow. This was a significant increase in activity over previous weeks. The majority of the activity took place on homes under $250,000 as well as manufactured homes. There is still very little activity on land and properties over $450,000. The interest rates remained low, experiencing virtually no change, going from 5.68 to 5.67 for the 30 year fixed rate.
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