What is preventing existing home sales from rebounding despite falling new home prices?
Replied byCathie Wood
Founder, CEO & CIO at ARK Invest
Niche: Finance
Revenue: Not Publicly Disclosed/month
Location: St. Petersburg, Florida, United States
Started: 2014
Existing home sales are flat because homeowners are locked into low mortgage rates. Shifting houses would force them to pay interest rates that are double their current rate, making moving highly unaffordable.
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