Demand & Supply

As higher mortgage rates become the new normal, more buyers are entering the market. But the same high rates are causing many potential sellers to stay in their homes with lower long-term fixed payments. When will supply catch up with demand?

CHIC (Pearl)

I get the feeling we’re almost there now. New listings, offers, and sales prices may be down year over year, but they’re all on the uptick so far in 2023. Open houses and broker tours are packed, and homes are selling quickly with multiple offers. Everything seems to be moving in a positive direction.

GEEK (Kevin)

Feelings are fine, but I need more data before I’m willing to say the market is on its way back. We could also be in the middle of a long-term malaise that will only be resolved when things explode or fall apart completely. Neither would be surprising at this point. But here’s hoping for an explosion.