![]() ![]() This increase in mortgage rates cooled mortgage applications. Mortgage rates reached as high as 6.79% at the beginning of June, according to Freddie Mac, as uncertainty moved through the financial industry due to the debt ceiling standoff. Sales were higher than last June’s estimated rate of 563,000. Sales of new single‐family houses were at a seasonally adjusted annual rate of 697,000, down from a revised 715,000 in May. Sales of existing homes have been down for the past few months, while new home sales have been rising. Homeowners with ultra-low mortgage rates are reluctant to sell and buy another home at a much higher mortgage rate. June’s month-over-month pullback is further evidence that while the new construction market is being boosted by the exceptionally low inventory of existing homes for sale, affordability concerns remain. Sales of newly constructed homes were down 2.5% in June from May, although they were up 23.8% from a year ago, according to a joint report from the US Department of Housing and Urban Development and the US Census Bureau. Other important languages spoken here include Spanish and French.WASHINGTON - New home sales dropped in June from the month before, even as buyers continued to rely on new construction as an alternative to the historically low supply of existing homes for sale. ![]() The most common language spoken in Discovery Bay is English. Important ancestries of people in Discovery Bay include German, Italian, Irish, English, and Portuguese. People of Hispanic or Latino origin account for 19.18% of the town’s residents. Discovery Bay also has a sizeable Hispanic population (people of Hispanic origin can be of any race). The greatest number of Discovery Bay residents report their race to be White, followed by Asian. The people who call Discovery Bay home describe themselves as belonging to a variety of racial and ethnic groups. This equates to an annual income of $234,612 for a family of four.ĭiscovery Bay is an extremely ethnically-diverse town. The per capita income in Discovery Bay in 2018 was $58,653, which is wealthy relative to California and the nation. In terms of college education, Discovery Bay is substantially better educated than the typical community in the nation, which has 21.84% of the adults holding a bachelor's degree or graduate degree: 32.20% of adults in Discovery Bay have a college degree. One downside of living in Discovery Bay, however, is that residents on average have to contend with a long commute, spending on average 38.22 minutes every day commuting to work. Finally, Discovery Bay’s overall crime rate is lower than average for the country. With regard to real estate, Discovery Bay has a high rate of owner-occupied single family homes, which tends to reflect stability in the local community. The town’s good public school district and large population of college-educated adults provide an environment conducive to academic values. ![]() First of all, many other families with children live here, making Discovery Bay a place where both parents and children are more likely to develop social ties with other families, as well as find family-oriented services and community. Because of many things, Discovery Bay is a great place for families with children to consider. ![]()
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