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The upside of 8% mortgage rates? More inventory

If I had told you on Dec. 31, 2022, that mortgage rates would hit 8% in 2023, you would reasonably assume housing inventory would sky rocket higher, home prices would fall noticeably, and the number of price cuts would be higher year over year. Instead, the opposite has happened: home prices nationally hit an all-time high, inventory is still down year over year and the percentage of price cuts is 4% below last year’s level. 

However, at least on the inventory front, 8% rates are starting to make a difference and we could be on the verge of details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com