The market for resale homes in August is typically more robust in closings than what we had this August.  This August closings on resale homes were down from other August time frames. Why is that happening? We have a lot of things going on today that we haven’t seen for quite some time. Home prices escalated significantly during the pandemic era moving up home prices above the normal increase that we normally see each year. Interest rates moved up significantly then settled back down at a lower rate. Inventory of resale homes increased significantly which gave those looking for homes a lot more choices which in itself can slow down the rate of purchasing a home. Overall, though, the past two months have shown lower closings. Closings normally take 45 to…

78 Views, 0 Comments

Read Full Post