Rental rates skyrocket as homebuyers, sellers retreat from housing market

“Homeowners, they don’t really have a good reason to sell right now, they’re sitting on record equity, they locked in low mortgage rates last year, so for them they can just keep paying those low monthly mortgage payments and just hold on until the housing market eventually turns around,” said Fairweather.

Meanwhile, pending home sales are down 18% nationwide and new listings and total inventory are down, too. Nelya Calev, a real estate agent with John L. Scott Real Estate, said she had a client who recently pulled their listing and opted to rent the property in response to the housing market changes.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Mortgage rates climb to 5.66%, showing no relief for housing marketAverage long-term US mortgage rates rose to 5.66% this week, showing no relief for a cramped housing market.
La source: nypost - 🏆 91. / 67 Lire la suite »

Stocks post another loss as markets worry about higher ratesStocks deepened their late August skid with more losses Tuesday, as Wall Street grapples with the prospect that high interest rates are here to stay until the Federal Reserve brings inflation down.
La source: latimes - 🏆 11. / 82 Lire la suite »