
Low Inventory, Interest Rates & Strong Economy
The housing market has dramatically moved further in the seller's favor during the last six months. The market has been operating in a 'Seller Advantaged' environment for several years, but particularly the recent fall in interest rates from 4% to 2.5% (40% decline) has intensified buyer demand. The market had already been experiencing pent-up demand due to the pandemic's Stay-at-Home orders putting a number of buyers on the sidelines. But add to this, action by the Federal Reserve lowering interest rates to stimulate the economy. The result is a large excess number of buyers prospecting for h...
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