Bright MLS May Housing Report: Home Prices May Have Bottomed Out: With limited inventory, however, the Mid-Atlantic market remains competitive
"There is a pool of 'shadow' buyers that could be waiting for mortgage rates to drop this summer," said Lisa Sturtevant, Bright MLS Chief Economist.
- "There is a pool of 'shadow' buyers that could be waiting for mortgage rates to drop this summer," said Lisa Sturtevant, Bright MLS Chief Economist.
- Lower mortgage rates could entice some homeowners to list their home, but it likely won't be enough to shift the balance in the market."
- The median days on market in the Mid-Atlantic region was 7 in May, the fastest pace of home sales transactions since last June.
- Showing activity remains below last year's level (-21.8%) as would-be buyers have relatively few homes to view.