Part 5/9:
Caution and Holding Off: Potential buyers worry that the market might crash or that rates will increase quickly, prompting them to delay purchases.
Increased Demand: On the other hand, some buyers jump into the market, motivated by the lower rates, leading to increased demand and eventual upward pressure on home prices.
This fluctuation can lead to a very active fall market, often coinciding with the holiday season, as demand starts to pick up with the improved borrowing environment.