Mortgage applications down 90%….. 245,000 homes purchased in 2022 are already underwater. Next year will NOT be a great time to buy, unless you want to lose your down payment within 6 months of buying and be paying on a home with negative equity.
Everyone has their opinion. The pent up demand from buyers right now is incredibly high. Now that rates are coming down and still being in a very low inventory market, supply and demand economics take hold and won’t allow prices to decline. I could argue about this all day and back it all up with data, but it sounds like you already have your opinion
Mortgage applications down 90%….. 245,000 homes purchased in 2022 are already underwater. Next year will NOT be a great time to buy, unless you want to lose your down payment within 6 months of buying and be paying on a home with negative equity.
Everyone has their opinion. The pent up demand from buyers right now is incredibly high. Now that rates are coming down and still being in a very low inventory market, supply and demand economics take hold and won’t allow prices to decline. I could argue about this all day and back it all up with data, but it sounds like you already have your opinion