'Selling Sunset' star Jason Oppenheim says the real-estate market bottomed out in 2022, but a full recovery may still be a couple years away

Quick Summary:

Oppenheim also said that demand for homes was so hot during the pandemic that sellers would get '10 offers on a crappy home with no yard.

This approach could give buyers more flexibility to refinance their mortgage and get a lower interest rate, or to limit the transaction costs a buyer pays at closing, he added.

That rise in home prices was partly due to historically low inventory and low interest rates, combined with a flood of stimulus money.

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Article Details

Category: EconomyBusiness

Markets: United States

Topics: Inventory Real Estate Selling Sunset Jason Oppenheim Housing Market Mortgages

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2023-01-30 @ 18:00:37 (1 months ago)

News Timezone: GMT -5:00

News Source URL: businessinsider.com

Language: English

Article Length: 534 words

Reading Time: 3 minutes read

Sentences: 45 lines

Sentence Length: 12 words per sentence (average)

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Copyright Owner: © Business Insider

News ID: 4983623

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