'The coldest winter'; Rising interest rates cool off Bay Area real estate market

But that doesn't mean the market is favorable for buyers right now, said Daryl Fairweather, the Chief Economist for Redfin.

"So, all of those things are more positive for buyers than they were earlier this year. But when you look at how expensive it is to buy a home, it's hard to feel like buyers are better off now than they were earlier this year." With the exception of the initial three-month lockdown in 2020, home sales in October were at the lowest level since February of 2008, according to the latest data from the California Association of Realtors.

"Winter is always a slow time for home sales, but this time, it's like the coldest winter ever in terms of how many homes are being sold. It's just not much activity happening with higher interest rates," Fairweather said."We actually saw a record share of home listings being cancelled – taken off the market – last month in November."

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

As Phoenix metro real estate market cools down, sellers offer added incentivesA new housing loan program goes into effect next month. It bumps up the loan limit to about $750,000 and get this – the down payment is just 3%.
Sumber: FOX10Phoenix - 🏆 83. / 68 Baca lebih lajut »

Tesla short sellers have made $11.5 billion profit this year | CNN BusinessHere’s more bad news for Tesla CEO Elon Musk — as if he needs any. How’d those layoffs go, CNN? Merry Christmas 🎄!!! 😝 Hello? The entire market is down... Any guesses as to why?
Sumber: cnni - 🏆 326. / 59 Baca lebih lajut »