I see the projections there for expected interest rates the remainder of the year, how much longer do you see rates holding here before price correction is forced to happen due to financials of the local buyers?

Question

Jon Hill · Accepted Answer

We’re already seeing some of that adjustment through longer days on market, more negotiation, seller concessions, and buyers becoming increasingly payment conscious. If mortgage rates remain in the mid-6% range or higher for an extended period, I would expect that pressure to continue, particularly in areas like Florida where INSURANCE, taxes, and other ownership costs are also elevated.