Over the past two years rising interest rates have had a massive impact on the real estate market.
For numerous years we saw record-low interest rates spur demand, which led to record sales volumes and impressive yearly gains in home values.
Since rates began to rise, we have seen a sharp decline in demand, but somewhat unpredictably, we have also seen a decrease in the supply of homes that has been greater than the decline in demand.
The combination of these factors has led to a market where we simultaneously have a low supply of homes, leading to stable and even rising home values, while at the same time, the cost to finance those homes has increased at a record pace, due to the 20- year high-interest rates.
The questions we are now…
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