The housing market continues to show resilience, with home prices reaching all-time highs despite recent increases in mortgage rates. Key factors being monitored include:
– Mortgage rates: Despite recent jumps, rates remain relatively low compared to historical levels.
– Home prices: Surpassing previous peak levels from two years ago, indicating strong demand and limited supply.
– Buyer activity: Monitoring if homebuyers are adjusting their purchasing behavior in response to changing market conditions.
– Inventory levels: Continued low inventory contributing to competitive pricing and bidding wars in certain markets.
Overall, the housing market remains robust, with strong demand and limited supply driving prices to new highs. The industry is closely monitoring various factors to gauge the resilience of the market and potential shifts in buyer behavior.
You can read this full article at: https://www.housingwire.com/articles/prices-for-pending-home-sales-reach-record-high/(subscription required)
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