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Mortgage rates continue to hover around seven percent, as the dynamics of a once-hot housing market have faded considerably. Unsure buyers navigating an unpredictable landscape keep demand declining while other potential buyers remain sidelined from an affordability standpoint. The interest rate hike by the Federal Reserve will certainly inject additional lead into the heels of the housing market.
Surging mortgage rates and still-high home prices are not leaving already demoralized home shoppers much to be thankful for these days. Nonetheless, the housing market remains competitive as demand continues to outpace supply. Would-be buyers with the stomach to stay in the market are gobbling up the limited inventory, especially new homes, as builders continue offering incentives to hopeful homeowners. Click Read More below for more information and video from Altos Research.
Airbnb, which matches travelers with property owners that have a couch, a room, or an entire property to rent, has become a powerful force in the real estate market. Today Airbnb is a $25.5 billion dollar business.
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