Posted 3/31/2024, 4:32:59 PM
Falling Interest Rates Could Spark Housing Market Competition, Bidding Wars
- Interest rates declining could spark bidding wars and higher home prices due to increased competition
- Inventory is still low with fewer existing homes sold in 2023 than 2005
- More sellers are listing homes again after delaying during high mortgage rates
- Economist Mark Zandi says the housing market has bottomed but full recovery could take years
- Barbara Corcoran advises buying a home now and leaving "love letters" for houses you like, even if not listed