Black Knight Says Sellers are Retreating From the Market
According to Black Knight’s latest Mortgage Monitor, both supply & demand in the housing market are being impacted by a volatile interest rate environment. In addition, they say shortages in for-sale inventory are keeping affordability tight and buoying higher home prices that potentially lock would-be sellers in place. Indeed… “Sharply rising 30-year rates in February [...] The post Black Knight Says Sellers are Retreating From the Market appeared first on Real Estate Investing Today.
According to Black Knight’s latest Mortgage Monitor, both supply & demand in the housing market are being impacted by a volatile interest rate environment. In addition, they say shortages in for-sale inventory are keeping affordability tight and buoying higher home prices that potentially lock would-be sellers in place. Indeed…
“Sharply rising 30-year rates in February have weakened home affordability, with nearly all major U.S. markets remaining unaffordable as compared to their own long-run averages….Between escalating inventory challenges and worsening affordability, we’re seeing some volatility in the market – just not in the form of widespread, steep price corrections.” Said Andy Walden, Black Knight’s Vice President of Enterprise Research.
Click here to read the full report at Black Knight.
The post Black Knight Says Sellers are Retreating From the Market appeared first on Real Estate Investing Today.
What's Your Reaction?