Tag #Pending Home Sales

How are increased home inventory and persistent high mortgage rates influencing buyer behavior and market negotiations?

The November rise in pending home sales, coupled with a second consecutive increase in existing home sales, indicates a shift in the housing market. Increased inventory, up nearly 18% year-over-year, is enabling buyers to negotiate better terms despite high mortgage rates, which have averaged above 6% for two years. This suggests that buyers are adapting to the current market conditions rather than waiting for lower rates.