‘SELL MY HOME FAST’ SEARCHES SURGE IN NEW YORK
Canada
Kyle Logan WEALTH OF GEEKSAs New York turns orange due to hazardous smog from wildfires in Canada, searches for “sell my home fast” skyrocketed 2,504 percent on Google across the United States on June 7th, according to an analysis by FindStorageFast.
Whatever search gets results
The analysis shows that searches for “sell my house fast” followed close behind, leaping up 2,147 percent amid the distressing weather phenomena. Not showing the same extreme jump, but undoubtedly remarkable, searches for “sell my house” and “sell home” also reached new heights, increasing 326 percent and 307 percent, respectively.
The cause
It’s no wonder that New Yorkers are desperate to sell their homes.
The air outside has turned the entire city a dark orange that looks ominous and is genuinely dangerous to residents. A report by IQAir said that the city’s air quality on Wednesday was the worst of all the major cities in the world, leading authorities to instruct residents to stay inside and avoid breathing as much of the hazardous air as possible.
The report shows that the wildfire smog has led New York to overtake New Delhi as the major city with the worst air quality in the world. And it’s not just New York City. State and local authorities have issued air quality alerts
Average long-term mortgage rate eases from 7-month high
ASSOCIATED PRESS
LOS ANGELES — The average long-term U.S. mortgage rate eased back from a seven-month high this week, a welcome change for homebuyers navigating high borrowing costs and heightened competition for relatively few homes for sale.
Mortgage buyer Freddie Mac said Thursday that the average rate on the benchmark 30-year home loan fell to 6.71 percent from 6.79 percent last week. A year ago, the rate averaged 5.23 percent.
The pullback follows three straight weekly increases, which pushed up the average rate to its highest level since early November 2022, when it climbed to 7.08 percent.
The average rate on 15-year fixed-rate mortgages, popular with those refinancing their homes, also fell this week, slipping to 6.07 percent from 6.18 percent last week. A year ago, it averaged 4.38 percent, Freddie Mac said.
High rates can add hundreds of dollars a month in costs for homebuyers, limiting how much they can afford in a market that remains out of reach to many Americans after years of soaring home prices. They also discourage homeowners who bought their home or refinanced in recent years when rates on a 30-year mortgage were around 3 percent from selling now that rates have roughly doubled.
That’s one reason the number of homes on the market remains near historic lows.
The U.S. housing market has been slow to regain its footing this year, limited by elevated mortgage rates and the thin inventory of available homes.
throughout the northern United States, including the Northeast, Mid-Atlantic, Great Lakes, and Ohio Valley regions.
Joining New York, Maryland has issued a Code Red warning for most residents, particularly children and older adults, urging residents to remain indoors as much as possible. Several schools nationwide have canceled after-school activities for students, opting instead to send them home as soon as possible.
When will it end?
The smog is wavering across the northern United States. Editor Kristin Stones says, “It almost seems to be getting a bit better here in PA but
also seemed that way yesterday morning, then got bad by evening again.”
Similarly, Lisa Iannucci, author of Healthy Travel: Don’t Leave Home Without It, says that in the Hudson Valley, “It was better this morning, but it’s gotten worse as the day went on.” Meteorologists predict that the winds will change in the coming days, helping to push the smoke from the Northeast. But, as the National Weather Service Weather Prediction Center tweeted Wednesday afternoon, “as long as the fires continue, the smoke may simply be directed towards other areas of the U.S.”
Other solutions
Moving isn’t the only idea that New York residents had for getting better breathing air. In response to air quality, searches for “air purifier” have also jumped 2,418 percent over the last week.
The warning from authorities and weather services are leading people to act in whatever way they can, and while staying inside certainly helps, the polluted air can still enter homes through windows and doors that cannot be fully insulated. That’s where air purifiers can play a significant role in keeping people safe indoors.
Experts recommend N95 masks
for those needing to go outside, as they can keep the most dangerous particles from entering your respiratory system. Some residents likely still have some masks bought in response to the COVID-19 pandemic, and these should be used now in response to the poor air quality.
Keeping furry and feathered friends safe
Pet-loving associations are urging dog owners who need to take their canine friends out to use the restroom to make these trips as swiftly as possible, as the air quality can affect pets just as much, if not more, than humans. Veterinarians suggest keeping dogs busy indoors with games and making sure that they stay well-hydrated. Bird owners must be even more careful, as pet birds should not breathe smoky air.
Impact on the housing market?
This dash to sell comes when housing costs have been rapidly increasing. Mortgage rates nationwide are approaching 7 percent after sitting at 2 percent just a year and a half ago, while the average price for a home in New York is 2.7 percent higher than a year ago.
CEO and Founder of FindStorageFast D’Arcy Hunter, notes that neither buyers nor sellers are in a great position to benefit at the moment and says, “It will be interesting to see if this spike translates into more listings and sales and what this may mean for the city’s housing market long-term.” •••
This article was produced by Media Decision and syndicated by Wealth of Geeks.
wildfires create hazardous smog coloring the Big Apple orangeYUKI IWAMURA / ASSOCIATED PRESS New York City is covered in haze as photographed from the Empire State Building observatory in New York on Wednesday, June 7, 2023.
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