Will Rising Interest Rates Flatten Home Sales in the Denver Metro Area?
Posted by West + Main Homes on
Photo cred: Denver Post
Higher mortgage rates this year haven't capped home price appreciation, which is adding to the pressure on buyers.
If first-time buyers were counting on home price gains to slow or flatten out as the trade-off for rising mortgage rates, they need to recalculate, some of the nation’s leading housing economists said in Denver on Friday according to The Denver Post.
“We are looking for a further crunch in affordability,” Lawrence Yun, chief economist with the National Association of Realtors, said at the National Association of Real Estate Editors’ annual conference in Denver.
Yun said builders aren’t producing enough homes to keep pace with demand in many markets, pushing up prices on existing…
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