Unbelievable! Home Prices Reach All-Time Highs!

The housing market has witnessed considerable fluctuations recently. As the market approaches an 8% interest rate, limited inventory remains a significant concern. Some predict a downturn, but Dr. Selma Hepp thinks the recent 5% price increase might be short-lived. High mortgage rates and seasonal trends could cause a decline in housing activity from Thanksgiving to the end of January due to major holidays.

Historical analysis from 2018 suggests current market behavior is normal. Recent stats show a drop in sales and pending homes, with inventory as the main problem. Despite low inventory, high demand exists, causing multiple offers on well-priced homes. New construction significantly affects sales, and while bank-owned home listings have grown, it's not concerning. October's market met expectations, but a slowdown is foreseen through December, with a possible rebound by March.

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