Mar
22
2022
Consumers Not Giving Up on Dream Home Due to Interest Rates
Buyers are still determined to buy a home despite interest rate increases. “I think people realize later does not mean better,” said CAR Spokesperson Kelly Moye. “Later could mean worse. Our prices appreciated 25% last year. Those people who didn’t buy a year ago are kicking themselves today.” The Federal Reserve announced on March 17 that the interest rate would increase by a quarter percent and some wondered how this increase, coupled with inflation and continuing supply chain upheaval, might affect protentional homebuyers.