Even though we are racing towards mortgage rates in the 5s (should be there by summer), there won’t be much adjustment by sellers because they aren’t going to give it away!
“We learned house prices are… ‘downside sticky’ which means sellers would rather withdraw from the market than sell at lower prices,” @FirstAm Deputy Chief Economist @odetakushi says, adding: “That supply-demand imbalance is so severe it will keep house price growth positive.” pic.twitter.com/uiN03eZ0Sy
— Yahoo Finance (@YahooFinance) March 18, 2022
2006 called and wants its meme back.