Inflation is high and interest rates keep rising, leading to a lot of speculation about the housing market, with many throwing around the word “crash.”
This week, The Escape Home’s Danielle Hyams checked in with Redfin chief economist Daryl Fairweather to get a pulse on what exactly is going on.
This week, The Escape Home’s Danielle Hyams checked in with Redfin chief economist Daryl Fairweather to get a pulse on what exactly is going on.Fairweather: Interest rates have really cut into demand. The median monthly mortgage payment on a home is almost 40% higher than what it was a year ago, so that just really cuts into buyer’s budgets, it’s why we’ve seen a slow down in prices, demand and sales.
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