Reported 5 months ago
Realtor.com Chief Economist Danielle Hale discusses the recent decline in existing home sales in the U.S., attributing it to high mortgage rates affecting affordability. She anticipates that any decrease in mortgage rates will lead to increased real estate market activity, but expects the recovery to be gradual. Hale also highlights the differences in pricing pressure between the new and existing home markets, suggesting that new homes might offer more affordability options due to builders being more flexible with incentives.
Source: YAHOO