According to finance company Freddie Mac, mortgage rates have recently dipped but remain near 7%, impacting buyers’ decisions and contributing to the lowest level of pending home sales. This trend is partially due to the strain on affordability caused by elevated home prices and mortgage rates. So, how can potential buyers navigate this market?
Rogers Healy, owner and CEO of Rogers Healy Companies, joins Wealth host Brad Smith to discuss the state of the housing market and offer insight into how buyers can adapt to the shifting conditions.
He shares his expertise on how individuals can make smart decisions in a market defined by high rates.
"You’ve got to have a strike-quick mentality … you’ve got to be ready," Healy says, adding that "if you find something that feels right, jump on it."
Healy speaks on dream homes and emphasizes the importance of working with an experienced agent. "The most important thing, honestly, is to be realistic. Have an agent that actually knows what they’re doing. They’re representing you; they’re not an Instagram influencer, they’re actually an educated agent that knows what they’re doing," he says.
To watch more expert insights and analysis on the latest market action, check out more Wealth here: https://finance.yahoo.com/videos/series/wealth/
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