Inventory keeps contracting as higher rates deter sellers: Redfin

A Home Buyer’s Guide to a Seller’s Market. By. Keep in mind that it could still be a good time to buy.. Oakland and Seattle, more than 40% of the homes for sale in the first quarter were in.

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 · If rates go up to 5 percent within the next year, nearly half of the real estate agents surveyed by the brokerage Redfin say their customers would begin searching for cheaper homes. "Many of my clients_both buyers and sellers_have expressed concern and hesitation about increasing mortgage rates," said Arto Poladian, a Redfin agent in Los Angeles.

 · Higher mortgage rates are making the already challenging task of buying an affordable home even tougher for many Americans this spring. In metro areas such as.

a Redfin real estate agent based in Chicago. “The [housing] recovery appears slow due to a lack of inventory and a low participation rate among first-time buyers, but it’s still a competitive seller’s.

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The big rate run-up, pushing 200 basis points, has slammed a lot of mortgage bankers, most of whom are fixed-rate specialists. Many are laying off staff or even selling out. Those that are committed to staying in the business are furiously trying to add adjustable-rate products to their lineup.

Here are Redfin’s housing predictions for 2017.. The lack of starter homes will keep sales growth weak next year.. We expect mortgage interest rates to increase, but to no higher than 4.3 percent on the 30-year fixed rate. Already, the 30-year fixed mortgage rate has increased from 3.5.

every metro Redfin tracks had less than six months of supply. “In the first half of the year, the housing market was able to keep its head above water, despite high prices and low inventory. error.

The luxury residential market is mostly immune to rising mortgage rates, which means the Federal Reserve. and Smoke said the luxury housing market experienced significantly higher inventory levels.

What causes spasms in a person's leg? Podcast Episode #458 Real Estate Investing News How Rising Interest Rates Might Affect Housing. Listen to the full episode OR Scroll to read the related article.

Homes sold at the fastest rate on record in May, according to real estate broker Redfin. The typical home went under contract in just 34 days, two fewer days than in April, which had set the.

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