Housing Market Cooling In Some Parts Of The Country After A Wild Pandemic Ride
By TYRONE TOWNSEND As the spring selling season continues, those in the industry are noticing that the housing market in parts of the country is beginning to cool after a wild ride during the pandemic. Bidding wars and all-cash bids were prevalent due to rising housing prices and low availability. As more investors invaded the market, millions of average Americans were left on the sidelines, unable to compete. The housing market is already beginning to cool but despite this fact, respite for homeowners – particularly first-time purchasers – is unlikely as the Federal Reserve continues to boost interest rates to battle inflation, driving up mortgage rates. According to Realtor.com’s Monthly Home Trends Report, housing inventory in the United States was…
