Navigating the Challenges of the Housing Market
TL;DR
Homeowners are choosing to stay put due to the low mortgage rates they currently have, which act as golden handcuffs. This has resulted in a decrease in new listings, down 22.9% YoY, and a hit to the demand side of the housing market. Real estate agents and mortgage brokers are feeling the pain as transaction volume stays suppressed. Active listings are up 22.1% YoY but down 50.5% since May 2019, indicating a competitive market.
Topics:businessreal-estate#golden-handcuffs#home-sales#housing-market#mortgage-rates#real-estate#real-estate-agents
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