It’s a very strong seller’s market right now, Redfin CEO Glenn Kelman said during a CNBC interview.
However, as prices continue to rise, eventually they’ll get to a point where people aren’t willing to pay. Builders in Miami for example are offering incentives and different types of payment options to capitalize on the market--something that wasn't really happening a year ago, according to the interview.
Meanwhile, mortgage rates are going higher, leading to a gold-rush mentality. “I think everybody is trying to beat the rate increase so we’ve got buyers flooding into the market,” Kelman says.
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