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Homebuyers are growing impatient to buy homes: BoA
According to Bank of America s (BAC) 2023 Homebuyer Insight report, the percentage of prospective homebuyers waiting for prices and/or interest rates to drop has fallen from 85% down to 62%. The U.S. housing market has been in a tough spot as contract signings for existing homes fell to one of their lowest rates in 20 years in October. Matt Vernon, Bank of America Head Of Consumer Lending, joins Yahoo Finance to give insight to the numbers in the report and what it could mean for the U.S. housing market, particularly with rates remaining at relatively high levels. The report is Clearly illustrating that the consumer today that is in the home buying journey at the beginning, in many respects, is beginning to, to your point, lose patience with the rate environment because ultimately that dream of home ownership is alive and well for all the reasons that we ve talked about in the past .I think the real important aspect of this though is the existing homebuyers and ultimately the motivation for them to begin to list their homes as well. #youtube #realestate #stockmarket Subscribe to Yahoo Finance: [ 🔗 Click ‼️ ] About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. Connect with Yahoo Finance: Check the latest news and data at finance.yahoo.com Follow Yahoo Finance on social: Connect with Yahoo Finance: Get the latest news: [ 🔗 Click ‼️ ] Find Yahoo Finance on Facebook: [ 🔗 Click ‼️ ] Follow Yahoo Finance on Twitter: [ 🔗 Click ‼️ ] Follow Yahoo Finance on Instagram: [ 🔗 Click ‼️ ] Follow Yahoo Finance Premium on Twitter: [ 🔗 Click ‼️ ] :::: Visit my YouTube channel @ Yahoo Finance ( [ 🔗 Click ‼️ ]] )
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