"From sizzling to fizzling, economic volatility is slowing the market"

Current economic volatility is affecting the market. Slowing sales and rising inventory levels are causing sellers to lower prices to attract buyers and buyers are regaining leverage. This is becoming a favorable environment for those that have been waiting for the right moment to purchase.

Mortgage rates are expected to remain elevated this year, which may not bring significant relief to buyers, but will provide more predictability, allowing both buyers and sellers to navigate the market with clearer expectations.

As we head into the busy spring homebuying season, increased options and improved pricing flexibility could encourage more buyers to enter the market.