Buyers Have Accepted 6% Rates As The “New Normal”

"Buyers have accepted 6% mortgage rates as the new normal."

- Compass CEO Robert Reffkin, CNBC

Watch CNBC segment

Compass CEO Robert Reffkin's Thoughts On the Spring Market

Buyers have accepted 6% mortgage rates as the new normal.

Mortgage purchase applications have increased 8 out of the past 10 weeks.

There is a lack of inventory, however, inventory is 60% higher compared to this time last year.

Buyer demand continues to be strong, with home prices up in both March and February sequentially.

Open house traffic has picked up dramatically, with multiple offer situations becoming more common in markets across the country.

Have questions about market forecasts and trends, or anything else real estate-related? Don't hesitate to reach out.

Janet Million

Vice President
M: 571.329.3732
O: 703.310.6111
janet.million@compass.com

Office: 703-310-6111

Compass Real Estate is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.