Americans are becoming less optimistic about being able to buy a home — reflecting the significant challenges buyers face in today’s market.
Other recent data has reflected how home buyers continue to encounter significant hurdles in making a successful offer on a property. An analysis from Zillow Z, +3.47% ZG, +3.58% found that 47% of homes in the U.S. were on the market less than a week before an offer was accepted, and 76% were on the market for less than a month.
Lower mortgage rates Other research has shown that the inventory of homes for sale remains near a record low. Amid the fierce competition for homes, that low supply is causing prices to hit record highs. While mortgage rates remain around 3%, economists believe that the economy’s continued recovery from the pandemic will eventually spur rates to move higher, increasing the affordability squeeze.
Thanks for posting, your selling & buying home report information, and from what I'm seeing is the luxury buyers are pretty much buying to enjoy the low rates while the rest are just renting till jobs & economy get better. realestate
good luck
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