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Tag Archives: Potential Sales

Potential Homebuyers Feel Biggest Impact of Rising Rates

“The higher the mortgage rate, the more sellers will go on strike and the more potential buyers will feel the impact of reduced house-buying power, but price appreciation will further slow and potential buyers can use adjustable-rate mortgages to regain some of that lost house-buying power,” said Mark Fleming, First American’s Chief Economist.

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Potential Home Sales Drop, but Demand Still Strong

Potential home sales fell by 0.2 percent to 5.69 million in April, according to a recent study. This represents an 89.3 percent increase from the market potential low point reached in December 2008. What the study found is that strong consumer demand fueled gains in market potential for existing home sales, but this was offset by high prices and falling affordability.

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