this post was submitted on 28 Sep 2023
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Homebuying activity is falling off a cliff (On a yearly basis, pending transactions were down by 18.7%) (finance.yahoo.com)
submitted 1 year ago by [email protected] to c/[email protected]
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[–] [email protected] 10 points 1 year ago

It's a few things, at least in my experience house hunting.

  • High prices

  • High interest rates

  • Limited availability due to people being locked into low-rate mortgages

Those three items, in combination, are a death sentence for anyone wanting to enter the market. Hell, my 800 sq ft condo is going for over 650k now, which is a great litmus test for how absurd prices are right now in my area.