Last year saw the slowest housing market in decades, yet home prices still climbed. Here’s what buyers and sellers should expect when demand returns. Last year was one of the toughest real estate markets in modern history. Home sales dropped to levels not seen in decades. High mortgage rates kept many families on the sidelines, and affordability challenges slowed activity in nearly every market across...
Western NY Market Updates
If Mortgage Rates Fall Below 6 Percent, NAR Projects 5 Million More Buyers Could Enter the Market The National Association of REALTORS® (NAR) projects that if mortgage rates dip under 6 percent, about 5.5 million additional households could qualify to buy. Many of these are renters or families who’ve been sitting out due to affordability concerns. When rates hover closer to 7 percent, monthly payments...
Buffalo just got put on the map. Here's what that actually means for buyers and sellers in Western New York.