According to the MReport, the real estate market is cooling off and cannot sustain it’s upward climb.The mid and upper level price points are starting to experience price reductions, and concessions like (contingencies, covering buyer costs, etc.).
This combined with the narrowing of mortgage guidelines by the CFPB, and the possible reduction in loan amounts from Fannie Mae and Freddie Mac will undoubtedly shrink the buyer pool. One other problem to consider? Bank owned properties and the high number of current and expected foreclosures that have yet to enter the market…(read more)