Sales are down because there’s fewer and fewer homes on the market....that’s why prices are up.
Yep. Same pressures still exist.
And not to be a broken record on this, but people don’t buy a price. They buy a monthly payment. Significantly higher interest rates are pricing many people out. We are also seeing a surge in ARM loans again. That is poison to the buyer.
And finally, I doubt seriously that anyone is refinancing now.
Bingo