Home Shoppers Kicking the Tires, But Delaying Deals

BY: CONOR DOUGHERTY

Potential home buyers continue to look at properties for sale but are submitting far fewer offers, the latest sign that real estate activity has cooled from the white hot pace seen during spring and summer, according to recent reports.

The problem is that people are just confused. Clients are concerned about fluctuating mortgage rates as well as the government shutdown and debt ceiling battle. When people feel uncertain about their wealth and the economy, buying a home falls to the bottom of their to-do list. This isn’t to say that people have lost interest in homes. But with clouds on the horizon, they’re waiting to see the sun more clearly.