Contract Signings Slide, But Not Due To Failing Demand
Posted By: Gracen Tilton
In: Charleston SC Real Estate
Date: Wed, Apr 6th 2022 10:18 am
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