Everyone is ready to buy a home at a different time in their lives, and a health crisis or not, today is no exception. Understanding how affordability works and the main market factors that impact
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Where are home values today compared to the beginning of the year?
How can prices rise while mortgage rates increase?
“In the current housing market, the driving force behind the increase in prices is a low supply of both new and existing homes combined with historically low rates. As mortgage rates increase, the demand for home purchases will likely remain strong relative to the constrained supply and continue to put upward pressure on home prices.”
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Many fear a stalled market due to the spread of COVID-19. However, according to the newest Economic Pulse Flash Survey from the National Association of REALTORS® (NAR), buyers are out