Interest rates are up, which should cause buyers to hesitate and houses to stack up on the market. That also should force prices to drop. But that’s not happening. Prices aren’t plunging. Buyers are still buying, and owners aren’t selling, so there’s property scarcity, which keeps prices high. It can’t last indefinitely. When will it end? It may not, according to some experts. Imagine prices staying high for the next decade! At some point, we’ll all start to move again, despite higher rates and prices. Call if you are thinking about selling. ~Valerie, (718) 399-3320
Why aren’t house prices falling more?
