Ralph McLaughlin notes that December marked the slowest real estate market in nearly two years, with homes spending an average of 70 days on the market.
Jones emphasizes that the sharp slowdown in home sales can be linked to rising mortgage rates, which are preventing potential buyers from entering the market.
While inventory saw a significant drop, the number of homes under contract saw a 7.4% increase compared to the previous year, indicating some resilience in the market.
Despite overall sluggishness, the rise in homes under contract suggests buyers may be waiting for more favorable conditions to make their move in the new year.
Collection
[
|
...
]