Ryan Serhant, CEO of SERHANT, says there isn’t just 1 housing market right now. There are really 4: cash buyers, buyers who need a mortgage, homeowners with low mortgage rates, and builders.
When mortgage rates climb, buying a home can start to feel like trying to hit a moving target. Every jump in rates makes monthly payments bigger, and that pushes a lot of buyers to look for another way in.
Selling your house is a big step, and you want it to go smoothly. And with houses taking a little longer to sell these days, renting it out might start to sound like a nice backup plan.