Realtor.com says recent higher mortgage rates have made buying a home even more expensive. In fact, their data shows that home sales have declined by a third across the country, but where are they down the most? With that question in hand, their number-crunchers recently put pen-to-paper to identify those areas of the country with the steepest declines in sales transactions. Indeed…
“These drop-offs have followed in the wake of the homebuying frenzy that took place during the pandemic. The unique market conditions during that period—mortgage rates at record lows, people rushing to find larger abodes, pent-up demand, and an unprecedented number of workers with the ability to work from anywhere—created a huge surge in the housing market.”
The top to cities where sales are dropping the most are:
- Tucson, AZ
- Las Vegas, NV
- Charleston, SC
- Ventura, CA
- Salt Lake City, UT
- Jacksonville, FL
- Colorado Springs, CO
- Atlanta, GA
- Raleigh, NC
- Washington, DC
Click here to read the full story at Realtor.com.
