Mortgage rates are showing signs of easing, falling below the 7% for the first time in a month. Melissa Cohn, the Regional Vice President of William Raveis Mortgage, joins Wealth! to discuss her outlook on the housing market.
Cohn notes that as rates continue their downward trajectory, "more buyers will come into the marketplace." She advises individuals looking to purchase a home to buy now. As the number of homebuyers increase and rates continue to drop, Cohn says "prices are likely to go up."
Cohn also highlights home sellers, noting the importance of finding "that happy medium." For those looking to sell their properties, she says they must remember that they will ultimately be in the market to buy as well.
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