LOS ANGELES (AP) — Homebuyers in Seattle, Silicon Valley and the nation's other priciest markets are seeing more properties hit the market as mortgage rates finally start trending lower. The number of newly listed homes for sale climbed 4.2% last month, according to data from Realtor.com. The Fed doesn’t set mortgage rates, but its policy pivot cleared a path for mortgage rates to generally go lower. While mortgage rates rose this week economists still expect them to ease in coming months and that could lead to more listings. Active listings were down 23.2% last month compared to September 2019 and new listings were off 11.8%, according to Realtor.com.

Source: Daily Sun October 11, 2024 00:39 UTC