Quote:
Originally Posted by JMintzer
As has been said, Interest rates affect the sales of the home they're selling in order to move to TV.
If they can't sell their home, it can make buying a new home in TV more difficult...
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In Fairfield County, Connecticut, the lack of inventory has caused an imbalance of supply and demand. Despite any interest rate concerns, available houses here are selling very quickly and the prices are at an historical high. Few folks are putting their homes on the market because the vast majority of people have a fixed mortgage less than 4%, and not many want to enter a highly competitive buying market where the next mortgage is over 7%.
There are some YouTube videos that are put up by realtors on the MLS that include the number of cash purchases vs. conventional mortgages for Villages resales. The number of cash purchases is over 60% of resales in all the videos I've seen.