I am seeing so new activity on listings but this late season cool period seems to have slowed the buyers dow a bit. I suspect that by mid April we will start to see real spring weather and that will bring the buyers out in force.
Many people including some agents continue to blame the interest rates, but honestly these rates are only slightly higher than the 50 year average and they are likely to settle in for a while. I do not expect to see historic lows like we had a few years ago anytime soon. As the rates continue to stabilize in this somewhat average range, buyers will return. Sellers that have been unwilling to list because they are locked in at sub 4% rate will eventually succumb to their own needs and sell. They will downsize or move to be closer to family, etc.
The 10 year period of super low, below average rates has truly spoiled American homebuyers. Younger people never saw rates above 7% in their entire adult life. It is a shock to the system and it has eliminated some people from qualifying to buy a house. Over the years banks and government agencies have always worked to create opportunities for middle income families to own a home.
Before assuming you do not qualify talk to a licensed loan officer to see what programs are available to you. You may have more buying power than you realize.
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