A House vs. A Home
As mortgage rates tick off recent highs there still looms a big question. Will the sure in home demand for the pandemic continue moving forward. An often over looked metric in the housing market is Emotions. With an unprecedented surge in first time home owners the question is how emotionally attached are these new owners to their homes? Some may not have gotten their dream home due to limited supply and lots of competition but that might not mean that they will be selling the first chance they get. Obviously selling would mean they would have to buy another property but rates have made that seem unattractive. Even if rates drop the market may be at a stand still as new buyers and old sellers will be less likely to move. There are many moving parts and only time will tell.
Credit: Miles Nadal