Current State of the Housing Market. Sellers are locked in due to mortgage rates, which limits supply, and buyers face affordability issues, again due to mortgage rates. Therefore, transactions are depressed. However, what matters most to OPEN is home price stability, and mgmt is seeing home price stability. Overall, mgmt doesn t see a significant change in the supply-demand dynamic relative to 2023. Importantly, mgmt believes there is pent-up demand that will come back with rate relief, and OPEN is maint ...
