Early-Stage Homebuying Demand Rises to Highest Level Since May

Morgan Stanley private wealth adviser Kathy Entwistle and Lexerd Capital Management founder and CEO Al Lord give market outlook and discuss the banking crisis on ‘Mornings with Maria.’ More homebuyers are on the hunt for housing as mortgage rates and home prices — though still elevated — continue to wane, Redfin recently reported.  According to the brokerage’s latest data, mortgage purchase applications slipped for the fourth consecutive week. Additionally, during the week ending March 26, Redfin’s Homebuyer Demand Index reached its highest level since May 2022. The index is a seasonally adjusted measure of requests for tours, home offers or requests to talk to an agency about a home search.  LOWER MORTGAGE RATES JUICES HOMEBUYERS San Francisco Redfin agent Ali Mafi said the majority of the calls coming in are coming from first-time buyers or investors. “First-time buyers are interested in looking at homes because prices have come down, though they’re still concerned about high mortgage rates,” Mafi said.  A residential real estate for sale sign is seen as inflation and interest rates increase October 27, 2022, in Wash …

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