By now, everyone knows 30 Year mortgage rates are inching closer to 5%. Looks like applications are down for the first two months in 2022, as one would expect. We have a lot of people in this sub that benefits from a hot RE market including agents… but I want to get an agent’s perspective in major metro areas: How are sales going? I would imagine with the lack of inventory, that agents are struggling so far because too many agents chasing too few homes (unless you are the listing agent). Would like to get some feedback on how you think the rising rate environment plays out over the course of the year.
I’ve been sitting on the sidelines, but will be ready to buy by the end of the year, if it makes sense. But I won’t fomo into it.