The 2 Big Issues the Housing Market's Facing
Rate-Locked Homeowners-
When so many homeowners are rate locked and reluctant to sell, it’s a challenge for a housing market that needs more inventory. However, experts project mortgage rates will gradually fall this year, and that could mean more people will be willing to move as that happens.
The Fear of Not Finding Something To Buy-
The other factor holding back potential sellers is the fear of not finding another home to buy if they move. Worrying about where they’ll go has left many on the sidelines as they wait for more homes to come to the market.
What Does This Mean for You?
Be sure to work with a local real estate professional to explore the options you have right now, which could include leveraging your current home equity. Learn how putting your equity to work can keep the cost of your next home down.
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