Why war and rising mortgage rates can’t slow the spring housing rush
Despite economic uncertainty due to the war in Iran and rising mortgage rates, the US housing market is experiencing an uptick in market pace. Homes are spending fewer days on the market, with active listing inventory climbing 5.7% year over year, and median list prices falling 1.2% year over year.
The US housing market is seeing an increase in market pace despite economic uncertainty. Homes are spending fewer days on the market, with a median of 54 days. Active listing inventory has climbed 5.7% year over year. Mortgage rates have risen for the fifth straight week, but remain at favorable levels. The average 30-year fixed home loan rate is 6.46%. Lower prices and rising inventory are driving the market. Buyers are taking advantage of current rates before they increase further.
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