From a total inventory perspective, we haven't seen any pickup in demand in the past couple of weeks as mortgage rates fell under 7%.
It could be that rates haven't fallen far enough or stayed there long enough. Most buyers are frankly not that aware.
For falling rates to motivate buyers to take action, we'd need buyers actively shopping. We could be witnessing homebuyers totally checked out for 2024, waiting to see where rates are, what the economy is doing, and who is president next spring.
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