Orange County Housing Report: Rising Rates Vs. No Inventory
There are two opposing economic forces impacting the housing market right now, rising mortgage rates and a record low supply of homes available to purchase.
There simply are not enough homes available for buyers and rising rates have not yet had an impact on the insanely hot housing market.
The supply chain problems have been well documented across the United States and around the globe. One of the hardest hit industries is new cars. The supply of available new cars has dwindled down to record lows. As a result, dealers are adding a “market adjustment fee,” a line-item cost above the MSRP. The fee ads anywhere from a few thousand dollars to as much as $20,000…