Want to know why the housing market is so competitive? Look at this one metric

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 42 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Finding a home to buy is incredibly difficult these days — and one major shift is driving the national housing supply shortage.

If you’ve thought about buying a home in recent months, you’ve likely encountered a dismaying landscape: There are tons of buyers in the housing market, but hardly any properties available for sale.

A new report from real-estate brokerage Redfin RDFN sheds light on one factor that’s fueling the national housing-supply crunch. The takeaway: Homeowners across the U.S. aren’t moving as often as they used to. “Homeowner tenure may have already peaked, or the decline in 2021 could be a blip before it climbs back up,” Redfin chief economist Daryl Fairweather said in the report.

Other trends, though, may counteract the potential benefits of the pandemic-fueled interest in migration. Rising mortgage rates may prompt some families, who would otherwise buy a new home and sell their current one, to stay put. That’s because the higher interest payments might begin to counteract the savings they could see from moving to a cheaper area.Plus, homeowners on average are getting older — a trend that predates COVID-19.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

It's not hard if you got the money

Rаtе mу bооbs😘😘😘

Hey, millions of criminal aliens from the south need a place to live, right?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines