WHAT’S UP WITH THE REAL ESTATE MARKET?

🎙T H E E L E V A T E D L I F E (Ep. 18)

“Uplifting bites of inspiration to elevate your business and your life.”

“What’s going on with the real estate market right now?”

🏡 The housing market has suffered from dwindling demand as the Federal Reserve's interest rate hikes drive up mortgage rates and the cost of homebuying. 😒

According to the National Association of Realtors, existing-home sales in October fell for the ninth consecutive month to an annual rate of 4.4 million. Ushering in the declines, the average rate on the popular 30-year fixed mortgage has more than doubled over the past year to 6.49%, according to Freddie Mac. The Fed slowing down their rate hikes will send a signal that we are close to the bottom and most analysts expect that to happen in 2023.. 📉

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