"Buyer demand is closely tied to mortgage rates, as lower rates are an avenue to affordability in today's market," says Realtor.com senior economic research analyst Hannah Jones.
"Some buyers might have been avoiding the snow and cold weather in January, while holding out hope for lower rates later this winter and spring. Homebuyers may find not only lower mortgage rates but also more inventory, if they wait until spring," explained Lisa Sturtevant, Bright MLS chief economist.
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