Tight Housing Inventory Is Keeping Prices High, For Now

Tight inventory is keeping prices high, for now and inventory may not stay tight, notes Brad Hunter. He and Melissa Cohn discuss the U.S. housing market. They talk about how home prices are rising according to the latest housing data. They go over how higher rates impact mortgage costs. Melissa notes that buyers have come to terms with today’s high-rate environment., as rates are now at a 20-year-plus high, but buyers are buying as we can see with the continued strength in home prices. She also highlights that affordability is a factor today – with more and more buyers having to turn to non-QM loans to get approved. Tune in to find out more about the stock market today.