Despite mortgage rates reaching a two-year high a week ago, home buyers say the increased rates aren’t scaring them away from their real estate search, in accordance with a new Redfin survey. Only 2.6% of respondents to the survey say they have chose to postpone their search since rates rose above 4%.
Increased Rates Fail to Discourage Buyers
25% of respondents say the rise in rates does not impact their home-buying decisions, and about 24% say they think an increased sense of urgency to buy before rates get higher. However, 23% say the rate increases may prompt them to look in other locations or buy a smaller home. About 26 % of buyers say they might take more time with their search and see if rates go back down again.
Why are buyers feeling resilient facing increasing rates on mortgages? According to Redfin’s blog: “While there’s no definitive answer, often home buyers are searching for a new home as a result of major life event, such as a birth or a marriage or even a job relocation, which can’t easily be timed to the market – but which still motivates a purchase along its own timeline.”
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Take a look at a few of the most recent homes that came on the market here in the Tampa Area.
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Lot Size1,307 sqft
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Home Size682 sqft
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Beds1 Bed
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Baths1 Bath
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Year Built1973
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Days on Market2
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(all data current as of
5/18/2024)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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Lot Size
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Home Size936 sqft
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Beds1 Bed
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Baths1 Bath
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Year Built2000
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Days on Market2
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(all data current as of
5/18/2024)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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Lot Size
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Home Size2,000 sqft
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Beds4 Beds
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Baths3 Baths
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Year Built1986
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Days on Market2
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(all data current as of
5/18/2024)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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Lot Size6,099 sqft
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Home Size1,522 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1954
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Days on Market2
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(all data current as of
5/18/2024)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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Lot Size9,148 sqft
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Home Size2,562 sqft
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Beds4 Beds
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Baths3 Baths
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Year Built1950
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Days on Market2
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See all Real estate matching your search.
(all data current as of
5/18/2024)
Listing information deemed reliable but not guaranteed. Read full disclaimer.