The number of homes sold in the 100 largest housing markets this October was half of last year, according to the Knock Buyer-Seller Market Index. While that may start to give home buyers more power, experts say high-interest rates are preventing a true buyer's market.
The number of homes sold in the 100 largest housing markets this October was half of last year, according to theWhile that may start to give home buyers more power, experts say high interest rates are preventing a true buyer's market.
"They told us it was still a strong market, interest rates were going up, we had lots of showings but no offers," she said. "There were a few we got feedback that interest rates were too high, they were not ready to take the plunge," Babisak said.A"for sale by owner" sign stands outside a home. "In normal market you could safely call it a buyers market," said Adam Perdue of the Texas Real Estate Research Center at Texas A&M. "It's just right now, everything is so unusual. You have to go back to the 80's before you start seeing this kind of rapid change in interest rates. That mess up a lot of our terms.""If you managed to refinance in 2020 when rates were at their lowest, and rate was 2.5 or 2.
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