News & Commentary: Market Pulse Articles
Inventory constraints, rising prices, and still-tight financing have been keeping home sales down.
Spring is in the air and so is increased confidence in housing markets. But REALTORS® say tight inventories and hard-to-get credit remain drags on business.
Student loans and a tight job market keep many would-be home owners on the sidelines.
Affordability is expected to take a hit next year as home prices and interest ratescontinue to head up.
Pent-up buyer demand may lift the market soon, but for now interest rates and lending standards are holding down home sales as the year winds to a close.
Interest rate hikes and rising home prices are taking a toll on sales.
REALTORS® are seeing strong buyer demand against low, but slightly improving, inventory levels, continued price increases, and fewer days on market. But there are growing concerns in the industry and among consumers about rapid price gains
and rising interest rates.
Home sales have been hovering at the 4.9 million sales-pace mark since fall of last year and aren’t likely to move up much unless more inventory comes onto the market.
Home sales are improving, but NAR analysts say the market would see at least a half-million more sales a year if lenders would return credit conditions to historically normal standards.
Sales and prices are up and the length of time it takes to complete sales is down, but real estate isn’t out of the woods yet.