Existing Home Sales Slide Despite Lower Mortgage Rates

Friday, 20 September 2024, 07:34

Home sales slide, yet lower mortgage rates hint at potential recovery. The National Association of Home Builders (NAHB) anticipates increased activity as mortgage rates stabilize. With improving inventory, we expect affordability to enhance for prospective buyers.
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Existing Home Sales Slide Despite Lower Mortgage Rates

Understanding the Current Home Sales Market

Existing home sales have shown a downward trend, despite the recent drop in mortgage rates. Many experts believe this slide is temporary.

The Role of Mortgage Rates

The National Association of Home Builders foresees a future uptick in home-buying activity as mortgage rates continue on a moderating path. This sentiment underscores the importance of monitoring mortgage trends.

Inventory and Affordability

  • Improving inventory levels are expected to ease home price growth.
  • This shift can ultimately enhance affordability for potential buyers.

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