Some signs point to potential opportunities, says Chen Zhao, economic research lead at Redfin
The U.S. housing market has become unaffordable for many aspiring homeowners, priced out by either high home prices or high mortgage rates.
The real-estate brokerage said two key elements of the housing market could offer an opportunity — rising inventory and volatility in mortgage rates. “‘Inventory is certainly not getting worse and there are some signs that maybe it could even get a little bit better. And over time, people get more used to these high rates.’”
“Even just this past week we saw kind of a big pullback and mortgage rates where they came down about 20 basis points or so,” Zhao said, reacting to speeches by Fed officials, and geopolitical conflict between Israel and Gaza.
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