Published by FOX Business | August 11, 2023
Recent data from mortgage buyer Freddie Mac indicated the U.S. homebuyer's monthly costs have surged nearly 20% compared to one year ago.
For homebuyers and sellers alike across America, there’s a massive “struggle” being felt to close deals or make any money.
“The challenges to real estate buyers and sellers right now are probably the greatest ever,” real estate powerhouse Dolly Lenz told Fox News Digital. “It’s a struggle for every buyer and a struggle for every seller… they really have to look and say: What am I doing? Do I struggle to stay where I am and just wait this out? Do I struggle to buy?”
“Which struggle am I willing to take on? And every family has to sit down at the dining room table and decide that,” she continued.
"It is a struggle and people really are suffering. So it's not a good time for real estate overall."
Recent data from mortgage buyer Freddie Mac indicated the U.S. homebuyer’s monthly costs have surged nearly 20% compared to one year ago. Lenz’s daughter and managing director of the brokerage painted the current housing landscape as “a tale of two cities,” joining the warning calls around a sticky real estate market with people who are “plagued” with high prices.
“We’re still doing deals because [clients] have cash. And like they say, cash is king,” Jenny Lenz also told Fox News Digital. “But other than the very, very high-end, we are seeing people who are pretty skittish. And again, the first-time homebuyer is suffering the most.”
