Eric Aasness
Sales Manager
| NMLS #506980
Branch NMLS #2477194
(206) 915-3742
eaasness@cmghomeloans.com
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Blog posted On September 13, 2024
Mortgage rates may have come down slightly, but affordability remains a significant challenge for home buyers, particularly as home prices continue to climb. Typically, rising rates cause home prices to cool, however the current market is anything but typical. The latest U.S. National Home Price Index from S&P CoreLogic and Case-Shiller shows that home prices reached record highs in June, despite rising interest rates.
READ MOREAddressing Affordability Challenges in Today's Housing Market: Effective Financing and Marketing Strategies for New Home Builders
Blog posted On July 31, 2024
By Contributing Author Anthony Grasst, VP National Builder Division
Current Market Issues and Challenges
The housing market is facing significant challenges. According to a recent survey by the Mortgage Bankers Association, many potential home buyers are waiting to purchase in hopes that interest rates will go down. The decision for many to wait is causing an overall drop in mortgage demand. This trend is exacerbated by rising home prices and high mortgage rates, both of which have contributed to a decrease in affordability and buyer hesitation.
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