Redfin Report: Buyers Can’t Buy if Sellers Won’t Sell
People are reluctant to sell because they don’t want to give up their low mortgage rate and it’s hard to find another home to buy.
- People are reluctant to sell because they don’t want to give up their low mortgage rate and it’s hard to find another home to buy.
- While pending sales are down, early-stage homebuying demand is ticking up, with mortgage-purchase applications up 8% from a week earlier, seasonally adjusted.
- Angela Langone , a Redfin agent in San Jose, said there aren’t enough listings to go around, with multiple offers on many homes.
- “Many buyers here aren’t held back by high mortgage rates; it’s the lack of inventory that’s really getting in their way,” Langone said.