According to the National Association of Realtors, existing-home sales decreased 7.2% between January and February. Sales were also down more than 2% compared to this time in 2021. This news comes as the average 30-year fixed mortgage surpassed 4% for this first time since May 2019. Rates increases, record-low housing inventory and inflation on construction costs makes a case that this trend will continue.
What are your thoughts?