Why Aren't Home Prices Crashing?
Home mortgage rates increased considerably last year, impacting lots of individuals & rsquo; s ability to purchase a home. And after a number of years of fast price gratitude, house rates finally peaked last summertime. Even though we & rsquo; re no longer seeing the purchaser craze that drove home values up during the pandemic, prices have actually been fairly flat at the nationwide level. Home mortgage rates rose significantly last year, affecting numerous individuals & rsquo; s ability to buy a home. And after several years of rapid rate appreciation, home rates lastly peaked last summer season. Even though we & rsquo; re no longer seeing the purchaser frenzy that drove home worths up during the pandemic, rates have actually been relatively flat at the nationwide level. & rdquo; You might believe sellers would have to lower rates to bring in buyers in todayâ& rsquo; s market, and that & rsquo; s part of why some might have been waiting for costs to come crashing down. Will some markets see a rate decrease?