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Video Transcript Below
Home Purchase Demand Has Decreased…Is The Housing Market Stabilizing?
You haven’t given up on the housing market and the chance to make your big move, have you? You might change your mind after hearing recent reports. Hi, I’m Tristan Colborg, The Denver Real Estate Agent. I’m sure that if you’re like everyone else, Interest rates have been on your mind. But the unease you may be feeling may be coming to an end. Let’s look at what experts are saying about the market right now.
House and driveway in Denver suburban neighborhood
Sam Khater, Freddie Mac’s chief economist, says, and I quote, “Although rates continue to fluctuate, recent data suggest that the housing market is stabilizing as it transitions from the surge of activity during [2020-2021] to a more balanced market…” He says, “Declines in purchase demand continue to diminish while supply remains fairly tight across most markets. The consequence is that house prices likely will continue to rise, but at a slower pace for the rest of the summer.”
“Declines in purchase demand continue to diminish while supply remains fairly tight across most markets. The consequence is that house prices likely will continue to rise, but at a slower pace for the rest of the summer.”
Lawrence Yun from the National Association of Realtors gives insight into what he believes will be happening soon regarding interest rates. He says falling inflation in July may suggest mortgage rates are topping out.
If you’re looking to buy, don’t wait to take advantage of the opportunities. Reach out to me to get started on the process today! Also, if you found this video helpful and don’t want to miss out on other videos like this, then like our page or subscribe to our channel. Again, I’m Tristan Colborg, The Denver Real Estate Agent, and remember, you deserve an elevated real estate experience.
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