It feels like buyers and sellers are in a daze right now. The holidays have snuck up on us, and I've heard from numerous sources that feelings of overwhelm are more prevalent this year. It doesn't help that interest rates are rising again, encouraging some buyers to take a break from shopping - for a house. Experts say that even with higher interest rates, it is still best to get into the market now, as house prices are predicted to continue to rise.
The linked article, by my favorite Odeta Kushi at First American Title, says that the interest rates are likely to "modestly ease through 2025", if inflation keeps slowing and the economy continues to stabilize. The problem with a lack of sellers will continue, though, as those with locked in rates of 3-4% decide to hold on to their current homes.
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