“In the current real estate market, inventory isn’t just tight; it vanishes weekly, leaving only homes priced aspirationally. This is not a temporary trend, but a sign that we must adjust our expectations,” reports Linda O’Koniewski, CEO, Leading Edge.
“Promising falling interest rates is misleading. Despite frequent forecasts of decreases at the next quarter, Federal Reserve meeting, or year-end, such predictions ignore the reality of a robust economy over the past dozen years. The idea that a quick fix exists is unfounded.”
“I don’t claim to predict the future, but it’s prudent to brace for interest rates significantly higher than those seen early last year. Homeowners hoping for lower rates in order to make a move, should reconsider. The adjustment to higher rates might take longer than many anticipate,” adds O’Koniewski.
Comments