Mortgage rates are showing signs of easing , falling below the 7% for the first time in a month. Melissa Cohn, William Raveis Mortgage regional vice president, joins Wealth! to discuss her outlook on the housing market.
Cohn notes that "more buyers will come into the marketplace" as rates continue their downward trajectory. She advises individuals looking to purchase a home to buy now. As the number of homebuyers increases 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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This post was written by Angel Smith