As the lock-in effect eases, the market for new homes is shrinking
Housing Wire
NOVEMBER 4, 2024
As high mortgage rates reshape the housing market, existing homes are making up a larger percentage of for-sale inventory, and homebuyers are taking notice. An overdue shift in homeowner attitudes about selling their homes is a major factor, Redfin reported. The available inventory of existing homes rose by 22% year over year in Q3 2034.
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