As one of our panelists says in this video, "Sellers aren’t selling and buyers aren’t buying". The shift we knew was coming in the summer and watching progress through the fall is, is here. Days on market for many homes has jumped from less than a week to 40 days in markets around the island.
Our panelists DO point out that homes prices correctly, are moving and there IS buyer demand for these homes.
Our mortgage partner, Scott Wynn, Wynn and Eagan Team, discusses the bank failures and how the Fed reacted with a drop in the mortgage rates. He forsees rates getting better after the May report when inflation will be evaluated and seen to be improving.
Looking for a mortgage and need strategizing assistance?
Connect with Scott at https://wynnteam.com
Looking to learn more about the market and chat about resources around the island and want to be connected to life here? Email Julie@Ziemelis.com