| NN2N1 thinks aloud again. Headline link goes to a graph of 30 year mortgage rates 2020-present. |
It is clear Home Asking Prices, and Interest Rates, are both way up.
But, homes sales are rapidly declining with each interest rate hike also. Plus, more and more US Citizens are finding they can't even afford an apartment because they now cost more per month than a house payment.
During the Trump time period, initial offers to buy, usually took 15 to 30 days, with additional buyers bidding the price up against each other. In other words, a typical Seller's Market.
But, Now under O'Biden, even initial offers are taking as much as 90++ days and usually come with a sizable reduced buyer counteroffer. Or, as some jokingly call it, "A wish they could sell it at all market".
A Home Sales Chart shows a drastic continuing drop, even after the Covid Pandemic ended.
Side Note: According to various reports, there is a possible-related increase in house fires since 2023.
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