Formerly Hot Housing Market Cooling Off
The formerly hot housing market is beginning to cool off as mortgage rates climb, and that has consequences for buyers and sellers.
Why the Hot Housing Market Is Cooling Off
This post looks at a market that was hot and is now beginning to cool off. Meanwhile, mortgage rates are climbing, and the post ties the cooling to that climb. For general background on how mortgages work, see Mortgage loan on Wikipedia.
What It Means for Buyers and Sellers
The post also looks at what the change means for buyers and sellers.
Key Takeaways
- The formerly hot market is beginning to cool off.
- Mortgage rates are climbing.
- The change matters to both buyers and sellers.
Related Reading on Creative Geniusess
- Housing Prices Are Going to Soften, Says Redfin CEO Glenn Kelman, where the Redfin CEO discusses remote workers’ impact on the housing market, rising mortgage rates and his outlook for housing.
- Home Sales PLUNGE by 30% as Home Builders ABANDON Projects..?, on home sales that crashed in April by 30% across America, as home builders begin to abandon projects and pull fewer permits.
- iBuyers Lost Millions in the Housing Market, on public records and reports showing Zillow lost more than $100,000 on more than a dozen homes in the Valley since 2020.
