Potential buyers may be a bit on edge, and the housing industry is taking note.
Thomas H. Kee Jr. of MarketWatch writes that pending home sales fell by 2.5 percent in August, which came as a mild surprise. Buyer apprehension isn’t due to mortgage rates.
It is very possible that the value proposition has diminished significantly for prospective buyers, and although individual buyers looking for a home may still find it difficult to find something good, real-estate investors appear to be seeing the inverse relationship between price and interest rates as a put to their decision-making process.
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