Could Soaring Interest Rates Bring a Balanced Market?
According to at least one analyst, even if rates climb, inventory may increase and home prices will not take a plunge. The increase in interest rates may make it more difficult for some buyers to enter the market, but may be exactly what this extreme Seller’s Market ordered to calm the bidding wars.
Some say that home prices will not fall, but will continue to rise; perhaps not into the double digits. The “red-hot housing market now faces its biggest test yet: soaring mortgage rates” Source: Fortune