Leave a Message

Thank you for your message. We will be in touch with you shortly.

Explore Our Properties
Background Image

The 6 reasons why Compass CEO Robert Reffkin believes Q4 of 2022 was the bottom of the recent real estate market cycle

The Sarsen Team  |  January 24, 2023

The 6 reasons why Compass CEO Robert Reffkin believes Q4 of 2022 was the bottom of the recent real estate market cycle

1. 25% increase in weekly mortgage applications.
 
2. Mortgage rates continue to move down to a 4-month low.
 
3. Increase in buyer interest, open house traffic, and offers.
 
4. In the last quarter of 2022, 42% of sellers were giving concessions to buyers at the closing table, a 10-year high.
 
5. Home builder sentiment improved for the first time in 1 year.
 
6. Pending closings were down 30+% at points in the fall but over the last few weeks, we have seen pending listings in most of our markets nearly flat year over year.
 
 
 

Follow Us On Instagram