Mortgage Rates Dip, Home Sales See Uptick

Kicking off the new year 🎉, we're seeing mortgage interest rates trending down ⬇️, now at a notable 6.675% 📊.

Why it matters 🤔: This drop could energize the housing market, offering more attractive conditions for potential buyers 👥.

By the numbers 📈: A notable uptick in Houston home sales occurred in November, breaking a 19-month pattern 🔄.

The big picture 🌍: Throughout 2023, buyer interest has been tepid 😐, while the supply of homes remained low 🔍.

For Home Buyers 🏡: Lower mortgage rates mean more affordable home-buying options. But, the still-tight supply could make finding the right home a competitive affair 🥊🏠.

For Home Sellers 🤝: The scarcity of homes on the market 📉, coupled with increased buyer interest from lower rates, could lead to more competition among buyers 🏃‍♀️. This competition might even boost home values 📈💵, making it an opportune time to sell 🕒.

See Also: How Much Equity Did My Home Gain In 2023?

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