7 minute read
Well, friends, Americans are buying houses this winter. Each week housing inventory is falling, and the pending sales are climbing. The market has fewer price reductions and more immediate sales each week. The market is not crazy hot like last year, but the data is irrefutable. I’ve been calling the trend “surprising,” but I’m no longer surprised because it has been so consistent.
I suppose the big question is not whether or not people are buying homes, they are. It’s whether or not this soft landing will last. Will a recession hit hard and derail the year’s demand? Or will a strong economy lead to higher mortgage rates and a repeat of the ice-cold conditions of the second half of 2022? Either way, it is obvious that the demand for homes is plenty strong.
