In today’s market, we’re seeing a unique kind of gridlock: buyers and sellers are both hitting pause. With higher mortgage rates, it’s no surprise that many buyers are reconsidering—monthly payments just aren’t as appealing, so more folks are staying on the sidelines. That’s reflected in pending sales, which are slowing down as fewer house hunters make the leap to serious offers. On the flip side, homeowners holding onto lower-rate mortgages are understandably reluctant to list their properties, keeping inventory tight. As someone who’s worked on both sides of the transaction—and with a background in mortgage lending—I see the ripple effect every day. Buyers want manageable payments, sellers don’t want to lose their favorable rates, and as a result, we’re experiencing a rare housing stalemate where transactions have slowed more than usual.
Leave a Reply