Contract Signings Slide, But Not Due To Failing Demand

Posted By Gracen Tilton @ Apr 6th 2022 10:18am In: Charleston SC Real Estate

Pending home sales fell in February for the fourth consecutive month, but the decline isn’t due to waning demand from eager home buyers. In fact, it’s just the opposite: Competition is growing fiercer, even as buyers face record-low inventory.

Buyers are facing limited choices, higher home prices, and rising mortgage rates, which has led to a 28% annual increase in mortgage payments, according to NAR. Still, many aspiring home buyers are in a rush to get ahead of further rate increases that are likely on the horizon.

Gracen Tilton | Marshall Walker Real Estate | 582 Rutledge Avenue | operations@marshallwalker.com | 803-549-6318 


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