Vinny Rodriguez, a senior loan officer at Fulcrum Home Loans, states that buyers who are ready and qualified have more opportunities now than they did a year ago. He notes that there has been an uptick in mortgage demand nationally, although affordability remains a challenge. Many buyers are starting to accept current market conditions, but Rodriguez cautions that economic policy uncertainty, particularly regarding trade, could impact the market negatively.
Homebuilders are feeling pessimistic due to tariff talk, with builder sentiment dropping and prices for materials increasing. This could offset progress on inventory shortages and affordability, with some contractors raising prices by as much as 20%. Rodriguez believes that stabilizing the market will require slow home value appreciation and steady declines in interest rates.
Rapid changes in the housing market, particularly on the supply side, can lead to price increases and difficulty for buyers. Rodriguez stresses the importance of staying the course and avoiding sudden movements that could cause people to react quickly. Overall, the state of the housing market varies by location, so it is important for buyers to research what the market looks like in their area.
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