Today’s sub-4% mortgage rates improve buyers’ purchasing power now, but at some point they’ll rise, leading to higher borrowing costs, says NAR’s chief economist. What will happen to sales when that occurs?
Fla. Realtors data: Single-family sales up 5.9%, median price up 3.7% year-over-year while condo median price up 3.8% over 2018’s end. Condo sales eased slightly, down 0.8%, compared to a year ago. A growing economy and strong jobs outlook bode well for 2020.