The experts are saying that real estate has recovered and everything will be fine now, in spite of high rates. They are quick to add that nobody can predict the future!
Well, it looks fairly predictable to me.
The previous three years plotted above were the hottest frenzy markets of all-time, so we’re lucky just to be having a similar run of showings. But today those showings will be less fruitful, and even if the 2023 trend can stay close, we probably won’t be having as many actual sales.
If the rest of this year goes about the same as recently, we should have a couple of strong weeks in June, take off July 4th, and then a couple of decent weeks in July before drifting off for the rest of the year.
Mortgage rates would have to get into the 5s for it to go any better.
%5.5 rates will be the new %3.5 going forward.
us 2-4% rate owners will never willingly sell.