1-2 months after the spike: Pending home sales and home-purchase mortgage applications typically decline slightly, though the effect isnt statistically significant. New home sales also decline modestly. 3 months after a spike: New home sales and existing home sales drop.
For the original version including any supplementary images or video, visit http://www.forbes.com/sites/trulia/2013/09/11/how-long-before-mortgage-rates-hurt-housing/
Housing Markets Where Home Listings Spiked This Summer
Sellers who were able to list their homes in April experienced multiple offers and short time on market with little competition from neighbors. As the season closed, significant month-over-month inventory increases added more competition to the April seller’s markets and slowed price acceleration and time on market. “Top 10 Housing Markets Where Homeowners Wish They’d Listed in April” includes the markets with largest increases in inventory from April 2013 to August 2013. While many of these markets are still seeing year-over-year price increases and short time on market — sellers who wanted to take advantage of very low competition and extremely quick times on market likely would have been better off listing their homes in April.
For the original version including any supplementary images or video, visit http://realestate.aol.com/blog/2013/09/12/housing-markets-where-home-listings-spiked-this-summer/