Housing Market Slows… But Prices Won’t Drop

Existing home sales just fell 3.6% despite lower mortgage rates, surprising a market that expected flat activity. Inventory is rising but still sits below a balanced level, keeping pressure on home prices, which climbed to $408,800. If mortgage rates drop again, pent-up demand could push housing prices even higher. Russell McDonald | NMLS 290837 | Broker CA DRE 01150730 Wymac Capital Inc | NMLS 18766 | Broker CA DRE 01121628 Real Estate Broker - CA Dept of Real Estate