Day: June 7, 2023

Higher interest rates and anemic stock and bond markets are clearly hurting sales, but a lack of new listings is an equal, if not greater factor, in our sales being down 34% from last year.In Greenwich much of our lower inventory is due to gridlock. Many people who would like to buy a house can’t find anything to buy. Most of our buyers don’t use mortgage financing and the higher you go in price the less mortgage financing you see. Above $4 million, you do see people buying higher priced houses with low-rate mortgages, to free up cash for other investments.