Existing home owners are taking a bigger share of the housing market while investors—who have been the powerhouse until late—are slowly retreating.
“A sustainable housing market typically includes a more balanced share of first-timers, move-up buyers and investors, and that's how the housing recovery is beginning to shake out,” Realty Times reports. Taking the lead: Current home owners—whether move-up, move-down, or move-over buyers—accounted for nearly 45 percent of the market share in home sales in June, up from 43.8 percent in May.
Home Prices Up 10% To 13% Homebuyers Locking In Affordability. Fully aware both home prices and mortgage interest rates are on the rise, home buyers are hedging their bets with fixed rate mortgages (FRMs) and sizable down payments to lock in affordable housing.
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