Nationally, the story is mixed, which is exactly what โbalanceโ looks like. Existing home sales fell 8.4% in January to a 3.91 million annual pace, while inventory was about 1.22 million homes, or roughly 3.7 months of supply. At the same time, mortgage rates have been drifting lower, with Freddie Macโs weekly survey showing the 30 year fixed rate at 6.09% as of Feb. 12.
Buyers are also seeing more price flexibility: Redfin data summarized this week shows more homes selling below asking, with larger average discounts than in recent years. That does not mean every market is soft, but it does mean strong offers are no longer the only path to a win.
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Disclaimer: Mortgage rates change daily and vary by borrower and lender. The national market is not one speed right now. If you want to translate headlines into a plan for your zip code, I can help. ๐ Message me โPLANโ and Iโll send a simple checklist for buying or selling this season.
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