Real Estate Markets Face Significant Shifts Amid Changing Listing Practices and Mortgage Rates
The housing market is evolving as private listings emerge and mortgage rates decline, impacting buyers and sellers in various ways.
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Overview
As real estate agents consider private listing options, concerns grow about buyers' access to homes. Meanwhile, a decrease in mortgage rates offers hope in a changing housing market, encouraging homebuyers to return during the spring season, with price growth slowing and new inventory emerging. Experts say areas like Florida and Texas are experiencing corrections following rapid price increases, changing the dynamics for potential sellers and buyers alike.
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Private listings can limit buyers' access to homes by restricting visibility and availability, potentially favoring sellers who prefer discretion or exclusive marketing strategies.
Declining mortgage rates can make homes more affordable for buyers, encouraging them to enter the market. However, rates remain relatively high, and affordability challenges persist due to rising home prices.
Areas like Florida and Texas are experiencing corrections due to rapid price increases followed by slowing growth. This shift impacts both buyers and sellers, as it adjusts market dynamics and potentially leads to more balanced conditions.
New inventory, particularly from new construction, is expected to increase in 2025. This growth could help balance the market, though it may not be enough to shift from a seller's market to a buyer's market in most areas.
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