The research shows home sales are down about 21% from this time last year; However, home prices are up about 14% in the same time period.
"A lot of sellers--especially those that bought two, three, maybe even four years ago all the way up to just six months ago--they are sitting there with three or three-and-a-half interest rate and going, 'Hey, I don't have to go anywhere. I think I will just stay put for a while,'" he said. In this case, Coburn says that can be the equalizer when it comes down to pricing and making your monthly payments.
Source: News Formal (newsformal.com)
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