Inventory has shot up by 17% since the year began, suggesting some relief from the inventory crisis. It's the first time since last April that we've seen more homes available compared to the previous year. Despite mortgage rates fluctuating between 6.6% and 7.1%, demand remains strong, demonstrating market resilience in the face of higher mortgage rates.
Read MoreEven with mortgage rates soaring above 7%, homes remain scarce, multiple offers are the new normal, and property values are skyrocketing. As the economy cools, expect mortgage rates to drop, igniting an even fiercer housing market frenzy.
Read MoreThe housing market is seeing significant shifts! Mortgage rates are creeping back up, inching closer to the 7% mark. Despite this, as Spring approaches, demand has surged by an impressive 28%. Additionally, inventory has seen a notable 16% increase over the past week. However, it still lags considerably behind the three-year average.
Read MoreWith the holiday season behind us, inventory is expected to rise in January and February! Buyer demand has also surged as mortgage rates have dropped and now hovering around 6.5%, improving housing affordability. Mortgage rates are expected to gradually decrease throughout the year as inflation continues to decline.
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