By Saturday evening the homeowners had received so many offers — a total of 25 bids, all of them over the $320,000 list price — that they canceled the second open house. Within 48 hours the sellers were in contract with a buyer offering well over the asking price. “We thought we’d get offers,” said Hill, who is with RE/MAX Results.
Mortgage rates are now nearly a percentage point and a half higher than they were a year ago, after a historic climb over the past year following the Federal Reserve’s effort to rein in inflation. That surge significantly changed the monthly cost of owning a home and pushed many buyers out of the market. Typically, when demand drops, supply goes up. But that’s not happening in the housing market now.
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:
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Treasury Secretary Yellen calls CEOs and business leaders with warning on debt limit | CNN BusinessUS Treasury Secretary Janet Yellen has been calling CEOs and business leaders to discuss the consequences of brinkmanship around the debt ceiling, according to a source familiar with the matter.
Source: CNN - 🏆 4. / 95 Read more »
Chinese automaker BYD to make EVs in Vietnam | CNN BusinessChinese automaker BYD plans to expand into electric vehicles manufacturing and assembly in Vietnam, according to a Vietnamese government statement citing the company's chair.
Source: cnni - 🏆 326. / 59 Read more »
Fewer Brits tuned in for King Charles' coronation than the Queen's funeral | CNN BusinessMore than 20 million people in the United Kingdom tuned in to watch King Charles III's coronation on Saturday, but the ceremony attracted far fewer British viewers than his mother's funeral last year.
Source: CNN - 🏆 4. / 95 Read more »
The King's coronation brought in far fewer viewers than the Queen's funeral | CNN BusinessMore than 20 million people in the United Kingdom tuned in to watch King Charles III's coronation on Saturday, but the ceremony attracted far fewer British viewers than his mother's funeral last year.
Source: CNN - 🏆 4. / 95 Read more »