July 11 2018
Rising Interest Rates Have Not Dampened Demand..
So, what is slowing down sales?
According to the last Existing Home Sales Report from the National Association of Realtors, sales are now down 3.0% year-over-year and have fallen for the last three months. If rising interest rates aren’t to blame, then what is?
First American’s Chief Economist Mark Fleming addressed the cause, saying that:
“The housing market is facing its greatest supply shortage in 60 years of record keeping, according to the Federal Reserve Bank of Kansas City.”
The biggest challenge is finding a home to buy, so make sure you are ready in advance. Call me to get preqaulified today!