“Buyers have accepted 6% mortgage rates as the new normal.”
~ Compass CEO Robert Reffkin, CNBC
_____
Compass CEO Robert Reffkin’s Thoughts on the Spring Market
01 | Buyers have accepted 6% mortgage rates as the new normal.
02 | Mortgage purchase applications have increased 8 out of the past 10 weeks.
03 | There is a lack of inventory; however, inventory is 60% higher compared to this time last year.
04 | Buyer demand continues to be strong, with home prices up in both March and February sequentially.
05 | Open house traffic has picked up dramatically, with multiple offer situations becoming more common in markets across the country.