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Redfin chief economist Daryl Fairweather joins Asking for a Trend to explain that while an increase in available home listings appears helpful to prospective homebuyers, these homes may be sitting on the market longer due to overpricing and various other realty obstacles.
Fairweather discusses the "stalemate" situation where homeowners feel hesitant to lower their asking prices because they’re holding onto low mortgage rates.
"A lot of homeowners record low mortgage rates, and they're not really willing to budge on price because they feel like it's not worth it for them to sell and then have to buy again if they're not getting a high enough price on the home that they currently have," Fairweather explains.
Fairweather says the stalemate is going to have to "resolve somehow," mentioning homeowners lowering their price or delisting as possible answers. She goes on to comment on the trajectory of mortgage rates in the latter half of 2025, believing they will "stay flat" while exhibiting volatility that is to be expected.
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This post was written by Josh Lynch