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To Blog

Rising Rates May Have a Silver Lining

April 26, 2022
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Posted by Robin Taylor Roth

Homebuyers could soon catch a break in this hot seller’s market. Sellers lowered prices and housing inventory grew after the average 30 year, fixed-rate mortgage passed 5% last week.

Specifically, for the four weeks ending April 3, sellers dropped their asking prices about 12% on new homes. Based on recent data, that’s an increase of 9% compared to this time last year. New listings also rose 8% year over year after four repeated weeks of declines. Demand still outstrips supply, but it’s good to know there may be a silver lining in rising rates.

Source: Mark Sanders Mortgage Consultant NMLS # 233908 Cell # 609-707-4756
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