Posted on 11/23/2021 10:05:07 AM PST by hamburger hill
Tight Inventory, “Increasing Affordability Challenges,” and Rising Mortgage Rates – The phenomenon of a spurt in buying during the early phases of rising mortgage rates – until they reach a magic number. Actual sales of all types of existing homes fell 8.2% year-over-year to 526,000 homes in October, with sales of single-family houses falling 8.2% year-over-year to 469,000 houses in the month, and sales of condos and co-ops falling 8.1% year-over-year to 57,000 units, according to data from the National Association of Realtors today.
(Excerpt) Read more at wolfstreet.com ...
Ours have settled down since the summer.
The investors are calling it quits before they are stuck with a ton of inventory.
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