Spring Season Will See a Significant Increase in Real Estate Inventory: Compass CEO Robert Reffkin

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Spring is just around the corner, and the real estate market is gearing up for a major shift. According to Compass co-founder and CEO, Robert Reffkin, the upcoming season will bring about a significant increase in real estate inventory. In an interview on ‘Squawk on the Street,’ Reffkin shares his insights on the state of real estate activity, the impact of the 30-year fixed mortgage rate, and the potential impact of concessions to buyers on homeowners looking to sell.

Positive Outlook for the Spring Real Estate Market

As we approach the spring season, Reffkin expresses optimism about the real estate market. He believes that the increased inventory will offer more options to buyers and potentially alleviate some of the challenges they have been facing in finding suitable properties. This surge in inventory is expected to provide a much-needed boost to the market and create a more balanced playing field for both buyers and sellers.

The Impact of Mortgage Rates

The 30-year fixed mortgage rate has been a hot topic in recent times, and Reffkin shares his thoughts on its influence on the real estate market. He acknowledges the current low mortgage rates as a positive factor, as it makes homeownership more affordable for buyers. This affordability can encourage more people to consider purchasing a home, thereby driving demand in the market.

The Consideration of Concessions

With the market dynamics shifting, there has been a rise in concessions to buyers, such as seller credits, negotiating closing costs, or offering incentives. Reffkin discusses the potential impact of these concessions on homeowners’ decisions to sell. While concessions can be appealing to buyers, they might dissuade some homeowners from putting their properties on the market. However, Reffkin remains optimistic that the increase in inventory will help mitigate any potential negative impact.

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In conclusion, Compass CEO Robert Reffkin anticipates that the spring season will bring a significant increase in real estate inventory. This surge in availability is expected to provide more options for buyers, while also potentially addressing some of the challenges they have encountered in their property search. With favorable mortgage rates and an evolving market landscape, the real estate market is poised for an exciting spring season.

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