During durations of excessive purchaser demand, house costs and residential sales have a tendency to increase. When homebuyer activity is lower, housing supply tends to grow and residential sellers are extra likely to scale back their asking worth to acquire provides. However, right now, many sellers are hesitant to place their properties on the market and trade of their current low mortgage rates for higher rates. As a end result, inventory hasn’t grown as we’d normally see when purchaser demand wanes but, because of lower stock, house prices are still remaining elevated.
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