Homebuyers who were able to buy over the past years or owners who locked in dramatically low mortgage rates by refinancing are not selling as those same rates climb.
“That’s going to continue likely for the rest of this year, as affordability challenges really reign [over] buyers’ budgets and sellers’ decisions on whether or not to list their homes,” Zillow Economist Nicole Bachaud told Yahoo Finance Live (video above).
The housing market is in the midst of a major shift as the Federal…
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