With an unpredictable stock market, the ever-increasing cost of living, ongoing war in Ukraine, and talk of a recession, many consumers are tightening their wallets and reconsidering their living arrangements yet again. For many would-be home buyers, the recent interest-rate hike was the final straw, and mortgage applications fell to a 22-year low this month, according to the Mortgage Bankers Association. But one consumer’s opt-out is another’s opportunity: As the housing market begins to cool, price cuts are following and houses are staying on the market for longer periods of time.
Source: Zumper National Rent Report
