“Interest rates have put the brakes on the market.”

Today, in the Calculated Risk Real Estate Newsletter: “Interest rates have put the brakes on the market.”

A brief excerpt:

Here are some interesting real estate agent comments from around the country courtesy of Eric Finnigan, VP at John Burns Real Estate Consulting:

#Sarasota, FL: “I've had numerous buyers looking but the prices are much higher than they want to spend. Many pulled back waiting for the market to go down.” ...
#NewYork: “Open house attendance is weaker than usual, and sales take longer.”

#OrangeCounty, CA: “Interest rates have put the brakes on the market.”

And here is some info on bidding wars from the survey:

If you are an agent, you can participate in this monthly survey … Burns Real Estate Agent Survey

There many more comments in the article. You can subscribe at https://calculatedrisk.substack.com/