Santa comes bearing gifts in the form of some good news for homebuyers: mortgage rates dropped for the sixth week in a row, now down to 7.03%. And, for an extra stocking stuffer, listings are up 5.6%. Finally, homes are moving fast, with a drop of 3 days on the market.
Not to be a Scrooge, but the dip in mortgage rates as pushed home prices up by 1.2%.
Analysts agree that 2024 could be much better year for real estate, particularly in more affordable Northeast and Midwest markets.