Rising Rates and Finance Costs Leaving Homeowners As Prisoners

By Brianna Gilpin

A potential sales report released Tuesday showed an increase in existing-home sales for the Month of May despite the many issues facing home inventory. Industry professionals predict with the growing age of millennials and eventual starting of families, demand for housing will remain healthy. Rising rates and financing costs could be leaving existing homeowners as prisoners to their own homes. Keeping in mind the state of the market when looking at home sales at a particular time will give incite on whether it is a good time to buy or sell.

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