I completely agree with this article covering the market standoff that is occurring right now. With interest rates having gone up so much in such little time, the prices of homes would typically be falling by now-- but they are not much where we live in Northern California (Mendocino County). The sellers are reluctant to reduce prices, especially when they do not need to sell. And many are going to wait close to their desired price and try again in the spring. This has left buyers with the tough decision-- pay a higher mortgage for now, work towards a buy-down to temporarily keep the payments lower, or wait and see what happens to the interest rates...
referring to this article:
https://www.housingwire.com/articles/video-if-homebuyer-demand-is-so-weak-why-arent-home-prices-falling/
Karena Jolley, Full-Time Realtor at
RE/MAX Gold Selzer Realty & Associates
707 354 2999 cell
mendohomes.com
dre# 01482063
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