National Association of Realtors chief economist Lawrence Yun:
Rising interest rates caused an initial surge in closed sales then a slight pause in pending sales. Closed sales have not decreased at this point.
Overall:
Recent months of pending contracts are “still the highest activity level since 2006.”
The real estate market “momentum is still solid”
Interest Rates are still close to a 60 year low.
Affordability is at an all time high, which is why there is a strong demand for more housing.
There is a housing shortage which puts pressure on builders to meet this demand in the market. “the current inventory is at a historic low point”
No comments:
Post a Comment