I think more of us might be in this category than anyone realizes.

About 80% of homeowners have a mortgage rate below 5%.

About 60% of homeowners have a mortgage rate below 4%.

With current mortgage interest rates in the 6-point-something range, why would any of those homeowners want to sell their home!?

I think we will continue to see depressed (lower) numbers of resale listings in 2024 as plenty of homeowners decide to keep making their current home work, given their very low mortgage interest rate.

Or, as the guy said earlier this week who has an interest rate below 3%... "I Will Never Sell My House!"

If you're in the market to buy a home right now, we are likely to see more resale listings coming on the market in the spring, but there will likely be fewer such listings than there are buyers who want to buy them, so competition will likely remain fierce especially in some price ranges and locations.