"Demand is holding, but pricing gaps are making deals harder to close. More listings are being pulled, and contracts are falling apart, indicating friction between buyers and sellers."
"In Riverside-San Bernardino, more than a third of homes leaving the market are being pulled rather than sold, reflecting a trend where sellers are stepping back instead of adjusting prices."
"Miami has lost over 1,000 listings in the past four weeks, suggesting that sellers are withdrawing from the market faster than new supply is being introduced."
"Financing strain, appraisal gaps, and pricing mismatches are contributing to a rise in transactions failing between contract and close, increasing pipeline risk for housing professionals."
Housing demand is stable year over year despite mortgage rates at 6.64%. Regional data indicates friction between buyers and sellers, with more listings being withdrawn and contracts failing. Inventory is increasing, but many sellers are opting not to transact under current conditions. In major metros like Riverside-San Bernardino and Miami-Fort Lauderdale, a significant number of homes are being pulled from the market. Purchase application growth has slowed, and many transactions are failing to close due to financing issues and pricing mismatches, increasing pipeline risk for housing professionals.
Read at www.housingwire.com
Unable to calculate read time
Collection
[
|
...
]