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 Size3,921 sqft
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Beds
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Baths
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Year Built0
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Days on Market1
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(all data current as of
5/11/2024)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
- List View
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See all Real estate matching your search.
(all data current as of
5/11/2024)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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Lot Size6,970 sqft
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Home Size1,731 sqft
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Beds4 Beds
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Baths2 Baths
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Year Built1961
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Days on Market1
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See all Real estate matching your search.
(all data current as of
5/11/2024)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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Lot Size3,921 sqft
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Home Size922 sqft
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Beds2 Beds
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Baths1 Bath
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Year Built1913
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Days on Market1
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(all data current as of
5/11/2024)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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Lot Size14,811 sqft
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Home Size3,924 sqft
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Beds4 Beds
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Baths6 Baths
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Year Built1988
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Days on Market1
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See all Real estate matching your search.
(all data current as of
5/11/2024)
Listing information deemed reliable but not guaranteed. Read full disclaimer.