re: Mortgage rates fall below 7% for the first time in months

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new list prices will rise.

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I just don’t think prices can go much higher in the near term that what they were at the tail end of 3% rates.

Rates dropping to 6% may bring buyers off the sidelines and stop the modest price decreases, but you are still going to end up with a note much higher than what you could have had in 2021.

Long term I believe residential real estate will appreciate as it has historically. But near term I don’t think we are at a point with housing prices where we see some astronomical rise in list prices if rates drop to 5-6%. That’s still going to be an expensive note at current home prices.