Jonathan Smoke, the Chief Economist for REALTOR.com recently shared some insight with CNBC about why this summer’s housing market is on track to be the best in a decade.
According to Smoke:
“Eventually the combination of higher prices and higher mortgage rates will lead to softening demand across the U.S. However, that is not imminent and now has very little chance of occurring before late fall or winter, when we reach the slowest time of the year for home sales.
And, interestingly, the two factors holding housing back — limited new construction and tight credit — are preventing the factors that normally lead to oversupply and trigger a downward cycle in real estate.”
There’s lots of insight in this article you should leverage to talk to clients. Integrate the data into your meetings and listing presentations, and share the article with sellers who have been sitting on the fence:
