Home buyers have been feeling cautious lately. Mortgage rates spiked earlier this year and, with home prices already high, many buyers took a wait-and-see approach through the spring and summer. Now, in late fall, it looks like they may be getting interested again. Why? Well, market conditions have improved somewhat and, though it’s still early, the changes may have grabbed buyers’ attention. Among the good news for buyers, an increasing number of homes for sale has slowed home price increases and provided more options for shoppers looking for the perfect home. That means, active buyers can expect fewer bidding wars and a better mix of available homes. Additionally, mortgage rates have slowed, falling a full percentage point from their recent peak. Taken together, the encouraging news has some home buyers reconsidering their plans. In fact, one recent analysis found buyer interest to be about 1.5 percent higher than the month before. If buying conditions continue to improve as spring approaches, those gains may grow. (source)
