The US home turnover rate in the first half of 2023 has fallen to the lowest in at least a decade as high mortgage rates compel owners to stay put, Redfin Corp. said.
Archive link: https://archive.ph/xbSQN
The US home turnover rate in the first half of 2023 has fallen to the lowest in at least a decade as high mortgage rates compel owners to stay put, Redfin Corp. said.
Archive link: https://archive.ph/xbSQN
Intrest rates have taken upwards of 100k of buying power from people, it’s not surprising that people aren’t selling houses unless they have to. Keeping rates low for over a decade was always going to cause things like this.