HAR Report: “The market is in a really steady place right now,” said HAR Chair Theresa Hill with Compass RE Texas, LLC - Houston. “Buyers are still active, prices are moderating and inventory is leveling out. Interest rates will be something to watch, but the market is on solid footing this spring.”
“Global uncertainty, particularly related to the war in Iran, is creating more volatility in interest rates,” said HAR Chief Economist Dr. Ted C. Jones. “Although mortgage rates have advanced slightly as inflation concerns grow, affordability in March improved compared to a year ago as the typical principal and interest payment on the median priced-home (assuming 20 percent down) was almost $106 less. On a year-over-year basis, affordability has now improved in 17 of the past 20 months, which is great news for homebuyers.”