A real estate expert predicts a “cooling” of the real estate market
Mitch Roschelle, founding partner of Macro Trends Advisors LLC, has joined “Varney & Co.” Thursday, saying “demand is still outstripping supply” in the housing market and predicting it is “cooling down.”
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MITCH ROSCHELLE: Just think of the sheer economics of the monthly payment…prices have also gone up…that’s a double whammy for the Buyer…I think what we’re seeing is people rushing to see if they can find a house because they’re worried that interest rates will go up even more and they want to lock in when they do. can.
You look at pending home sales…it’s a leading indicator. We’ve seen existing home sales slow down a bit…it’s cooling off, which might not be a bad thing because, you know, 21% year over year the price increases are really unsustainable for homebuyers, especially large first-time homebuyers.
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