Welcome to "Lisa's Blog"...Bringing some relevant news and quick thoughts about real estate every Tuesday.
I am excited about the real estate market in 2023. Why?
Home buyers should become more active as there is stability in the mortgage interest rates and they feel more confident that owning a home is a great investment. Home sellers who have been on the fence the second half of last year are now preparing their homes for sale which when they come to market should provide more inventory for the current buyer pool.
“There are approximately two months of lag time between mortgage rates and home sales,” Lawrence Yun, NAR’s Chief economist, said in a statement. “With mortgage rates falling throughout December, home-buying activity should inevitably rebound in the coming months and help economic growth.”
Some very positive news on the outlook for housing from NAR Chief Economist Lawrence Yun.
Check out the full article below: